How will participating in the debt settlement program affect my credit?
Based on your agreement with your creditors, it is your responsibility to make payments to them. If you do not, you may be breaking the terms of your agreement and they will probably report your account to consumer credit reporting agencies as late, past due, delinquent or charged off. After settlement, your creditors may report that the account was “settled” or “settled for less than full balance”. Information that appears on your credit report remains for up to seven years.
