Credit Control Debt Settlement Guide

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19 Apr 2023

Credit Control Debt Settlement Guide

Credit Control Debt Settlement Guide

Does a debt settlement program stop Credit Control from calling?

Most likely, yes. Every debt settlement company may take a different approach. Ask your settlement company if and when they will notify your collectors and creditors to direct calls to their office.

Do all debt settlement companies settle with Credit Control?

Every company may have unique relationships with debt collectors. You can count on an IAPDA-certified company to be transparent about what their debt settlement company achieves when negotiating with Credit Control.

Will settling the debt remove the account from my credit report?

Debt settled for less than what is owed is reported as "Settled in Full," "Paid for less than the full balance," or similar language. It stays on your credit report for seven years from the original default.

What are the risks of not paying Credit Control?

Everyone has different risks based on their state and situation, but ignoring debt can lead to a debt buyer lawsuit, default judgment, bank account levy, wage garnishment, and more.

Should I hire a debt settlement company?

A reliable debt settlement company can be valuable when you have complex situations, multiple debts, or you can't afford a settlement right now.