The secured credit card is a way to build and establish credit to obtain higher credit scores. If you haven’t been able to get approved for a traditional credit card, you’re still likely to get approved for a secured credit card, because there’s less risk for the lender. The card issuer will report your ability to pay the credit card on time and how you manage and use the balance to the credit bureaus.
To “settle your debts” means to offer your creditors a one-time lump sum payment to pay off part of what you owe them. In return, they will write off what you aren’t able to pay back. It is important to speak with one of our Debt Settlement Specialists to find out if signing a debt settlement agreement with your creditors is a good option for you. There are long term consequences to your credit rating when you have debt written off against you. Get all the facts before you sign. To find out more of the pros and cons of consolidating debt using debt settlement services, click here.
This site does not negotiate, adjust or settle debts. All federal student borrowers are able and encouraged to apply for any federal repayment or forgiveness programs through the US Department of Education for free without paying fees to any entity. Nothing on this site constitutes official qualification or guarantee of result. StudentDebtRelief.us is a private company not affiliated with the Department of Education of the Federal Government.
All loans available through FreedomPlus.com are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. All loan and rate terms are subject to eligibility restrictions, application review, credit score, loan amount, loan term, lender approval, and credit usage and history. Eligibility for a loan is not guaranteed. Loans are not available to residents of all states – please call a FreedomPlus representative for further details.
Once you’ve confirmed the accuracy of your credit reports, you can begin working on the mistakes that you’re responsible for. One easy way to pinpoint your credit-score weaknesses is to sign up for a free WalletHub account. Your Credit Analysis will include a grade for each component of your latest credit score as well as personalized advice for how to improve problem areas.

The debt settlement process can also relieve considerable stress for homeowners who are struggling with oppressive debt by taking over the communication process and stopping collection calls to the consumer. Even though a consumer’s credit score may suffer, chances are strong that it already took a hit anyway, and the damage would certainly be not as severe or long lasting as a bankruptcy.


We all want to get rid of debt. Debt is costly and can prevent us from reaching financial goals (or at least prevent us from reaching them when we’d like to). Some people consider credit card debt bad and mortgage or student loan debt good. The truth is that having any debt means you are financially beholden to a creditor and you can’t put your money in your own pocket until your obligation is met.
Other debt consolidation options, such as balance transfer credit cards, can have fees or interest rates that can vary over time. You should know that if you refinance your existing loan, you may lose rights or benefits under it, including state or federal rights (such as those under the Servicemembers Civil Relief Act). Loans cannot be used for education-related expenses (e.g., tuition and fees, books, supplies, miscellaneous personal expenses, room and board) or to refinance student loans. Please read the important information about consolidation. Learn more
The credit bureau usually has 30 days after receiving your dispute to investigate and verify information. Typically, the credit bureau will reach out to the company that provided the information and ask them to investigate. The credit bureau is required to send you the results of the investigation within five business days of the completion of the investigation.
The debt settlement process involves hard-core, long term debt collection attempts by your creditors, and serious credit score damage that will last for many years. Debt consolidation companies like National Debt Relief and Freedom Debt Relief offer to help you through the process for a fee (eating into your savings). They will instruct you to stop paying your bills, which leaves you open to lawsuits by your creditors.

I couldn’t be more thankful for this company and the ease and simplicity with the whole process. From beginning to end the application was seamless and extremely quick. I was able to secure a loan for a substantial amount of money even with a previous bankruptcy. Granted I have worked hard over the past few years to establish credit and pay off debt. However, my credit score could be better and most companies wouldn’t even consider me with the current rate I have which is around 675-700. This company has been a lifesaver and life-changer. The interest rates are beyond reasonable and the fact there is no pre-pay penalty is amazing. I have and will continue to recommend this company to family and friends. I will also apply for another loan once this loan has been paid off.
Each time you apply for credit is listed on your credit report as a “hard inquiry” and if you have too many within two years, your credit score will suffer. In general, a consumer with good credit can apply for credit a few times each year before it begins to affect their credit score. If you’re already starting with below-average credit, however, these inquiries may have more of an impact on your score and delay your ultimate goal of watching your credit score climb.

If you have multiple credit cards and especially if they’re high-interest cards another option would be to make a balance transfer either to a card with a lower interest rate or, better yet, a 0% interest balance transfer card. If you were able to transfer credit card debts that averaged 15% to a new one at 12% you would have a lower monthly payment and this could make easier for you to reduce your credit card debts. An even better deal would be to transfer those debts to a 0% interest balance transfer card, which would give you a timeout of anywhere from six to 18 months during which you would not be required to pay any interest at all. This means all of your payments would go against reducing your balance and if you were able to heavy up on those payments you could actually be debt-free before your promotional period ended. If this sounds like a good option be sure to read the fine print before you sign up for that new card. It could have a high transfer fee that would wipe out some of the savings you would achieve by transferring your debts.


Savings calculations are based on refinancing $121,825 in student loans at an existing loan servicer’s interest rate of 7.5% fixed APR with 10 years, 6 months remaining on the loan term. The other lender’s savings and APR (light green line) represent what would happen if those loans were refinanced at the other lender’s best fixed APRs. The Earnest savings and APR (white line) represent refinancing those loans at Earnest’s best fixed APRs.
Another advantage is the way that the debt is treated on your credit report. Credit cards appear as something called revolving debt, which has a greater impact on your score than installment debt, which is how a loan is categorized. This has to do with the fact that credit cards have a credit limit, and using too much of your credit limit can negatively impact your score. These factors don’t apply to installment credit.
Same Day Funding availability for loan amounts up to $25,000, and client must complete loan process and sign Promissory Note by 1:00PM ET on a business day. Also note, the ACH credit will be submitted to your bank the same business day. This may result in same day funding, but results may vary and your bank may have rules that limit our ability to credit your account. We are not responsible for delays which may occur due to incorrect routing number, account number, or errors of your financial institution.
Write a letter to the specific credit reporting agency that shows the falsehood, whether it is Experian, Equifax, or TransUnion. Explain the mistake and include a copy of the highlighted report along with your documentation. Although certain bureaus now let you submit disputes online, it’s not a bad idea to send this letter by certified mail, and keep a copy for yourself. The reporting agency has 30 days from the receipt of your letter to respond. The Federal Trade Commission provides advice on contacting the credit bureaus about discrepancies. Here are the contact numbers and web sites for the three credit bureaus:
If an investigation doesn’t resolve your dispute with the credit reporting company, you can ask that a statement of the dispute be included in your file and in future reports. You also can ask the credit reporting company to give your statement to anyone who got a copy of your report in the recent past. You’ll probably have to pay for this service.
Advertiser Disclosure: The loan offers that appear on this site are from third party companies ("our partners") from which Experian Consumer Services receives compensation, however the compensation does not impact how or where the products appear on this site. The offers on the site do not represent all available financial services, companies, or products.
Home equity debt consolidation loans, a type of secured debt consolidation loan, offer a fixed interest rate. Interest paid on a home equity loan is usually tax deductible, while credit card interest is not. However, home equity loans for debt consolidation can be risky, as your home may be foreclosed on if you can’t pay your loan. “The danger is if you eat up a significant part of your home equity,” says Gerri Detweiler, education director of business credit website Nav.com. “Make sure you have plenty of cushion in there so if something happens and you had to sell your home, or you had to move ... you don’t end up losing your home.”
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