A debt consolidation plan nor a settlement plan itself reflects negatively or positively on your credit report. Creditors and the credit bureau don't care whos paying the accounts, long as they're getting paid each month.
But in order to SETTLE ona debt, the debt must be charged off- which is a negative on your credit for 7 years.
A consolidation plan continues making monthly payments on time each month, thereby helping increase your credit score over time.
Will they report a positive report on your credit report or will it reflect debt consolidation?
A debt consolidation plan nor a settlement plan itself reflects negatively or positively on your credit report. Creditors and the credit bureau don't care whos paying the accounts, long as they're getting paid each month.
But in order to SETTLE ona debt, the debt must be charged off- which is a negative on your credit for 7 years.
A consolidation plan continues making monthly payments on time each month, thereby helping increase your credit score over time.