Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Report
Profile Image

Question By
Wog209

0 Contributions
0 People Helped
Credit card balance mediation program-is it recommended or does it have adverse effect?
I understand they contact creditors to reduce debt balances. Once credit card debt has been renegotiated all 3 credit bureaus are notified that my debt has been satisfied & paid in full for less than the balance owed. Will this have some type of negative effect on my credit score & is it a type of bankruptcy?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.