Very bad experience, do not recommend
I used this service a few years back, they told me all derogatory marks are removed from your credit report. Not true, accounts are closed but I have missed payments still on my report. If you can pay off your CC debt over time and not miss payments, its better to pay it off. This entire process definitely was a net negative impact on my credit score, and I fully regret making the decision to get my accounts "negotiated" oh and you still have to pay taxes on the cancelled debt. Was about 4-5k in extra taxes for me. Update: Thank you for your reply Century Law Firm. The following are points I wish would have been highlighted prior to me participating in this program. 1. closing these accounts will result in a loss of credit history which is a net negative impact on credit score 2. You will need to pay taxes on all cancelled debt as if it were income 3. Missed payments may not be removed from your credit report This program is good for those people who have more debt then they can feasibly may off themselves basically with interest accruing faster than they can pay it, but if you have any way of paying off the debt yourself, I 100% recommend skipping these types of programs altogether. I do feel like I was misinformed by the Century Law Firm representative who sold it to me, because we went back and forth for a few weeks, and these were specific questions I asked before finally moving forward with it. I don't feel there was anything malicious here, I think these things are just very complicated, but I want to share my experience to hopefully save someone from the headache.