Most people would be appalled at the thought of a total stranger calling out of the blue and demanding money. But this is what occurs when a junk debt buyer demands payment for debt and; unfortunately, many consumers pay without questioning the validity of the debt.
You can get a free copy of your report and score from Experian.
helps by giving you credit for the utility and mobile phone bills you're already paying.
Since these negotiations really only arise when you are already struggling with debt, in most cases debt settlement will have a negative impact on your credit scores.
Debt forgiveness—when a creditor wipes away all or some of your debt—is different from debt settlement, and is typically a result of you applying for or qualifying for a special program.
If you're thinking about trying to use either of these methods, it's important that you continue to make payments on time so that your credit scores remain intact.