You are drowning in credit card debt, but you are not too eager to enroll in debt relief programs. You are scared that it might ruin your credit. Is your reasoning flawed or justified? Actually, it is flawed. Many people sink deeper in debt while trying to maintain a good credit rating. Here are three good reasons to focus on your debts rather than credit score during financially challenging times:

  1. Why do you want a decent credit score? A good credit score helps you to borrow money easily. However, you surely do not want to borrow money, if you have already racked up too much debt and the creditors are making frequent calls to your place. Also, no one will approve loans to you, if you already have a bunch of debts.
  2. May be you have a good credit score right now. But how long can you maintain it, if you have several debts? Ultimately, your debts will bog you down and will show on your credit report. Moreover, high interest debts will cost you a lot of money, if you do not pay them off quickly.
  3. It is possible to repair damaged credit while trying to eliminate debts. You can consider taking small loans or applying for a secure credit card to rebuild your credit rating. On the other hand, mammoth debt can even compel you to file bankruptcy. It can take toll on your financial and mental health. You can have sleepless nights over unpaid bills, but you would never lose sleep over a poor credit score.

Staying away from debt relief to save your credit is a decision that will surely backfire. Eventually, you will pile up more debt and damage your credit. To avoid such a situation, hire professional help and eliminate your debts before it is too late. You should also remember that, if you pay off your debts timely, it will improve your credit score over a period of time.

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