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Debt-reduction programs often entail aggressive strategies for debt settlement at a very low percentage of the amounts owed. While this can help you get out of debt quickly, creditors may leave a negative note on the account when reporting to credit agencies, indicating the terms of your settlement. These notes can have a negative impact on your credit score that could take several years to turn around.
Source:
Thesimpledollar.com - Debt Reduction and Debt Elimination Programs: What's the Catch?
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