Business's response - by Alex V.on 11/28/2011
Hi Noneya B.
In response to your question.
"One of the reviews mentioned negative marks on your credit report due to using New Era or other debt settlement companies, can someone please elaborate?"
The response is that you will definitely see a negative report on your credit score, the reason is the way the scoring is done. Due to the creditors requirements, the accounts need to be delinquent in order to settle the accounts.
So the very aspect of getting to the settlement will show up as an account that is delinquent. Remember the goal is to settle the accounts for less than the full balance. so if your main focus is the credit debt Settlement will not be your solution.
To give you a better understanding. anyone looking to lend you money will look at your credit score and your ABILITY to pay back the loan, if you have too much debt and even if you have a stellar credit score, the chances are that you will not get the loan.
I would simply suggest you call us and we can give you a realistic look at YOUR situation and help you determine if Debt Settlement is best suited for your situation or what option may be best suited for your goals.
Vice President/ Co-Founder