Enrolling in a debt relief program like Americor may have a negative impact on your credit score in the short term. This is because when you enroll in a debt relief program, you stop making payments to your creditors, and your accounts become delinquent. Delinquent accounts can remain on your credit report for up to seven years.
However, over time, as Americor works to settle your debts and you make payments into a debt relief account, your accounts will become current again, and your credit score will begin to improve. In addition, once your debts are settled, your overall debt-to-income ratio will improve, which can have a positive impact on your credit score.
It's important to note that debt relief programs are not a silver bullet for improving your credit score. They are designed to help you get out of debt, and while your credit score may improve as a result, it's not a guaranteed outcome. It's also important to work with a reputable debt relief company like Americor, as some companies may make promises they can't keep and may actually make your financial situation worse.