The most frequent question that is asked is how are credit scores affected while enrolled in a debt management program. Let me first start off by stating that any and every debt relief or management program will negatively affect your score. In fact, anything short of paying off debt in a timely manner Debt management will negatively affect ones credit score. Now, that “disclaimer” is out of the way, let’s get to the facts.As the realization of the credit crunch exponentially impacts more and more people,How Will Debt Settlement Affect My Credit Score? Articles individuals are bombarded with offers to reduce debt or recommendations to file bankruptcy. Although, these offers sound great, and being in the debt settlement industry my experience has shown me they do work for most if not all people that follow through with the program. The most frequent question that is asked is how are credit scores affected while enrolled in a debt management program.

Let me first start off by stating that any and every debt relief or management program will negatively affect your score. In fact, anything short of paying off debt in a timely manner will negatively affect ones credit score. Also, this information is as accurate as possible in a general nature. Every consumer has unique circumstances that could vary results. Now, that “disclaimer” is out of the way, let’s get to the facts.Once that debt was reported as being a charge off it cannot hurt your credit more than it already has. Additionally, paying the debt in full to the initial creditor will be literally throwing your hard-earned money away. So, if you were to pay back a fraction of that debt and have it reported as being paid in full, you would feel better, right?