Credit is the money that you can borrow from a creditor or borrower. In regards to credit cards, credit is the credit card itself which you can use to shop around. You will have to make payments on the card within a stipulated time. In regards to loans, credit is the loan amount you will be getting.
(Just a personal thought, here..) I think it's pathetic that the ONLY worthiness, that we have with banks, fianance companies, etc....is just a number score. I mean, there are several people who know me at 'my' local bank. They know I'm a very responsible person (etc). However.....when it comes to my score, THAT'S what they base my 'credit' on. They know I've come a 'long way' (bad marriage, getting fiancially settled, etc..). However...it's a piece of paper they base their decisions on!!
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.