Does Debt Relief Hurt Your Credit?

If you’re drowning in overdue, ballooning bills, you’ve likely heard of debt relief.

Debt relief can look like different things, whether it’s consolidating multiple credit card balances through a debt consolidation loan or going as far as declaring bankruptcy when you just can’t pay anything off.

Depending on which route you take, your credit score can take a serious hit, sometimes around 100 points. That doesn’t mean debt relief is always the wrong call, but it’s worth understanding the trade-off before you sign up.

Here’s what each type of debt relief does to your credit and how long the damage can last.​​​​​​​​​​​