Start Loans for consolidating credit cards

Loans for consolidating credit cards

At that point, the delinquency stops affecting your credit. Your credit suffers tremendously in the meantime, and since you’re still legally obligated to pay the debt, a debt collector can pursue you until the statute of limitations runs out in the state where you live.

You’ve got several options when you make the decision to eliminate debt.

While you’re in the program, you won’t be able to use your credit cards or open new ones.

The plan is designed to get you out of debt in three to five years, after which all of your accounts should be reported as paid-as-agreed.

But you can recover from credit score damage much more easily and quickly than you can recover from crushing debt.