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i have very good credit. my creditors are chase, first national, and discover. i haven’t missed any payments. i just received a settlement from an injury and i don’t know how im going to make a living in the future so i need to be as frugal with this money as i can. im gravitating towards debt settlement savings because i would like to pay all the debt at once saving as much or more then half the money i owe. plus eliminating the 500.00 a month i pay my creditors would help in making my injury money last as long as possible. giving me time to go to school. im just very concerned about the affect it will have on my credit score.

Hello. It sounds as though you have the money to be able to pay off the creditors you mentioned. If you have the ability to pay off that debt then I suggest you do that even though it is not what you prefer to do. You do owe them that money and debt settlement is really only advisable for people who really do not have any way to repay their debts. In your case the potential risks and the damage to your credit score is probably not worth the time, costs, and risks that can accompany any debt settlement process. Thanks for the question.