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How Debt Settlement Affects Your Credit Score – What You Need to Know

July 1, 2025 by Olivia Williamson
A phone shows a 595 credit score labeled poor after debt settlement

Settling a debt means you negotiate with a creditor to pay less than the full amount owed, often as a lump sum or through a structured payment plan. While debt settlement can offer a path out of overwhelming debt, it will almost always lower your credit score, often significantly, and for several years. The reason: … Read more

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