While there may be many millions of fans of Suze Orman, one thing you should not listen to her about is your FICO credit scores. When you are buried in debt and can barely afford to eat or keep your lights on, what good does having a good credit score provide you?

Can it pay your light bill? Can it pay for your groceries? Can a good FICO score help prevent another fight with your spouse when you have to choose between paying the mortgage or the credit card companies? Can it help you sleep better at night?

It does no good to worry about keeping a high credit score when you have bigger financial problems.

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What you should be more concerned about is getting all your debts paid off one way or another. If this means that you save the money you would be paying to make minimum payments to your credit card companies and wait until they offer a settlement then so be it.

You can worry about rebuilding your credit score when you are debt free.

One thing you want to think about is your debt to income ratio when you are looking for a house. If you have no debts because you settled them all using debt negotiation and debt settlement then you will have a good debt to income ratio. You will have no credit card debt. You may have a lower credit score but if you wait a few months til after all your debts are settled you will start to see your credit score go back up.

If you have a 701 FICO credit score and $47,000 in credit card debt, which would help you sleep better at night, knowing your debts are paid off or having a 600 credit score?

Which would give you greater peace of mind? Which would provide you with more relief?

You can always improve your credit score, there are plenty of free resources on this. In may only take 1 to 2 years to do so. On the other hand, you could be stuck in debt for 20 years or more paying the minimums trying to get yourself out of debt.

By that time you will have paid double or triple your original starting balances in interest charges.

Maybe it's time you started worrying about something other than maintaining a good credit score. If you are having a severe financial crisis, maybe it's time you looked into debt settlement to eliminate your debts. You can do it yourself and save yourself thousands in fees.The typical fee for a debt settlement company is 15% of your debt, if you owe $50,000 that comes to $7,500 in fees. And this is usually collected upfront, before you start seeing any results. You are better off doing it yourself.

Bankruptcy is not the answer because with the new laws of 2005, you will most likely have to file Chapter 13 and still pay back most of what you owe over a 5 year period. And your credit gets ruined for 7 to 10 years anyways. With debt settlement, you eliminate your debts and it is not a matter of public record like bankruptcy is.

You have a choice, you can maintain a good credit score and struggle with all your bills and not eat for a couple days or you can forget about your credit score and get rid of all your debts first and then worry about your scores.

Click Here To Eliminate Your Debts