Understanding the Relationship Between Debt Settlement and Blacklists: Impact on Credit Information After Debt Repayment

Understanding the Relationship Between Debt Settlement and Blacklists: Impact on Credit Information After Debt Repayment

Question from a reader:
I have a question about debt consolidation. I heard that if you undergo debt consolidation, you will generally be on the blacklist for about five years after paying off your debts. I have loans from two companies, Company A and Company B, and I only consolidated the debt from Company A. After that, I paid off Company