Posts Tagged ‘ reduced payments ’

Debt management plans and your credit report

Dear Experian, Companies can negotiate with credit card companies and reduce your interest rate. They close your cards and you pay them a flat amount each month that goes towards your cards. How does this affect your credit? - YST

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Negotiating reduced payments can hurt credit scores

Dear Experian, I have several credit cards and am struggling to make house payments and credit card payments. If I make arrangements with a credit card company to pay the card off with a reduced amount, will that still affect my credit? - SPS

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