credit ratings posts

When looking at your different debt settlement options, the impact each effort might have on your credit rating is no doubt top of mind.

"There's a feeling out there with the Canadian public, generally speaking, that your credit rating is one of the most important things on the planet," says Richard Cooper, president and CEO at Total Debt Freedom Inc. "The truth is it doesn't matter what you do, what debt relief program you sign up for, it's going to have an adverse affect on your credit rating."

That said, he adds this: "A credit rating is really like a rose garden and your debt is like a house. If your house is burning down, do you really care if the fire department is destroying your rose garden with their hoses?"

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