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Reduction Financial | Understanding Credit Score and Debt Settlement

Understanding Credit Score and Debt Settlement

Enrolling in a debt settlement program will ultimately affect your credit score, but not like it would if you just ignored your bills. So while the crushing weight of debt may have made you worried that your credit score is permanently damaged, there is still hope. A debt settlement program can help you get out of debt and improve your credit score over time.

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Reduction Financial | What is Debt-To-Income Ratio?

What is Debt-To-Income Ratio?

Represented as a percentage, the monthly gross earnings that go towards paying debt is your debt-to-income ratio or DTI. This calculation is essential in personal finance because it helps lenders determine how much they’re willing to loan you. The emotional and physical trauma caused by being in debt can be downright dangerous for your health. Therefore, getting a handle on your DTI is essential.

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Reduction Financial | How to Set Financial Goals

How to Set Financial Goals

Having any debt creates a financial burden that makes planning for a future expense or long-term goal difficult. It may feel like a hopeless situation, but debt doesn’t have to derail your plans for the future or prevent you from achieving financial success. In the journey to a debt-free life, the best way to ensure you graduate from a debt settlement program is to set financial goals.

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Reduction Financial | How is My Credit Score Calculated?

How is My Credit Score Calculated?

There are actually several credit scores available. The two used by lenders most often are the FICO score and the VantageScore. Both are generated by private companies that sell the data to creditors. Both are intended to give creditors the data they need to make good lending decisions. And the formulas for both scores are proprietary – and secret.

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Reduction Financial | The Beginners Guide to Interest Rates

The Beginners Guide to Interest Rates

Our Reduction Financial guide to interest rates will help anyone understand how they work, the different types of interest rates you may encounter in financial opportunities, and the implications these rates can have on your budget. Simply, an interest rate is the cost of borrowing money.

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Reduction Financial | Blog

Reducing Debt Stress

Joining the Reduction Financial debt resolution program opens a world of possibilities to help you recover from debt and regain a sense of sanity and control. But that doesn’t mean that the emotional effects of debt just magically disappear. Throughout our program, you may still feel anxious, stressed, or even depressed about your debt situation.

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