Can I Use a Debt Settlement Program if I Have Excellent Credit? – Bonita


“Dear Steve,

Is there a debt consolidation program, or debt settlement program, that you can use if you have an excellent credit rating still, but are deeply in debt from credit cards without it affecting your credit? I’m talking $40,000 in debt.



Dear Bonita,

It does not matter what your credit score is when you begin to use a debt management or debt settlement company.

The services of a credit counseling group, debt management, debt consolidation or debt settlement can all bring your score down.

There is no free lunch. If you are going to a third-party and asking them to negotiate for reduced or special payments it is a clear indication that you are having problems and it should be noted on your credit report.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Do you have a question you'd like to ask me for free? Go ahead and click here.
Follow Me
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
Steve Rhode
Follow Me
See also  How Your Cellphone Can Help You Build Credit

2 thoughts on “Can I Use a Debt Settlement Program if I Have Excellent Credit? – Bonita”

  1. I need to know if my wife and I should file bankruptcy or seek debt counseling in order to avoid loosing our home.


Leave a Comment