If you only have one derogatory, I don't think it will affect it much at all, I have several that I have paid off while in bad standing, they should be dropping off soon, they only way they affect my loan applying process is that I always get a higher intrest rate.
The higher rate of interest might be due to your score. Your defines the rate of interest. Once you get your credit rating back on track the rate of interest will also fall. _________________ Regards,
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.