I am basically a timely and punctual person wanting to complete anything in time. I have never delayed any of my daily chores or the bills and other commitments which I have to make every month. But the recession has turned me upside down due to a very bad financial shape. There was more than two or three over due payments for more than 6 months for which I tried all possible means to clear but in vain. I became totally upset and stressed when I received a letter from one of the credit card company mentioning debt is charged off.
It means the creditor will no more contact me for the debts I owe and the same is sold to the collection agency. If such things are made, there is a reduction in the credit profile of about 100 points. I really regretted much for this as I have a great respect for the credit profile which I tried to maintain the best score all these days that is getting shattered now. I instantly contacted the customer support of 3debtconsolidation.com one of the leading online services for consolidating the debts negotiated the payment with the credit card company and drafted a monthly payment plan for me to get out of the bad debts. Debt consolidation plans helped me to avoid the damage of credit score.
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