Frequently Asked Questions about how to Repair Bad Debt

Here are answers to the most frequently asked questions about repairing bad debt.

What is debt repair?

Debt repair is a form of debt consolidation that helps you get out of debt quickly and affordably. Debt consolidation can help you repair bad debt by drastically reducing your interest rates and monthly payments. This enables you to pay more toward the principal of your debt, thereby helping you get out of debt faster with lower payments. Learn about types of debt on the next page.

How do I sign up to repair bad debt?

You can sign up to repair bad debt by filling out our online form. The form will ask you for basic contact information, like your name, phone number, email address, etc. We will then put you in touch with a debt consolidation service that can help you repair bad debt. The service can give you a free quote on their services and explain how you can benefit from consolidation.

Are you a debt repair service?

No, we do not actually repair bad debt. We are just a free referral service that helps our visitors find the right consolidation company for them. Our goal is to help you repair bad debt by putting you in touch with a competent, reputable consolidation service. We do not charge for our referrals, and they come with no obligation.

How much will it cost me to repair bad debt?

The cost to repair bad debt will vary from service to service. Typically, debt consolidation companies charge a single commission fee in addition to a monthly administrative fee. The commission is typically equal to the amount of your first monthly payment. For example, if your new monthly payment were $200, your total first monthly payment would be $400 because it includes commission. The monthly administrative fee is usually a per-creditor fee but may also be a flat fee that ranges anywhere from $10-$40.

Will it hurt my credit to repair bad debt?

No, you will not hurt your credit if you repair bad debt with consolidation. In fact, most debt consolidation customers enjoy a significant increase in their credit scores because they are able to considerably reduce the total amount of their debt very quickly. Another type of debt consolidation called debt negotiation will have an initially negative impact on your credit, but this service is a more serious intervention for those in danger of bankruptcy.