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Is debt settlement a good choice?

Updated: 9/15/2023
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MWorkman

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15y ago

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Debt settlement helps you in reducing your debt amount significantly, the debt settlement company negotiates with your creditors to reduce your debt amount. It is a better option than filing bankruptcy. I took help of Freedom Debt Relief and their debt reduction program helped me in reducing my debt amount.

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15y ago
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Q: Is debt settlement a good choice?
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Related questions

Is settlement good or bad on credit report?

Debt settlement is good for your credit rating. Just settle the debt and move on. Do not use a debt settlement company, ever.


What is a debt settlement company with good reviews?

A debt settlement company with good reviews is the National Debt Relief company. Some other debt settlement companies with good reviews are CuraDebt, Oak View Law Group, Premier Financial Debt Help and many more.


Where can a person find online leads for debt settlement?

There are many online websites that one can visit for leads for debt settlement. Obymako and Best Referral Rates are among the popular online choice for many.


How can I tell if I am a good candidate for a debt settlement?

If you are unable to pay your creditors, you could be a good candidate. You should talk with an experienced bankruptcy attorney, and if bankruptcy isn't the way for you to go, debt settlement might be.


Can you do a debt settlement if there is judgment against you?

Yes!! you can settle your debt before, during, and after litigation. If you decide to enroll in a program, be leary of any that don't disclose information to you. generally a good debt settlement company will require extra steps from you prior to enrolling a legal/judgment debt. A bad debt settlement company will take your debt no questions asked.


Do you have to declare what you save to the IRS if you go through debt settlement?

Yes, you have to declare what you save to the IRS if you go through debt settlement. You can read more information at www.debtfreedestiny.com/debt-settlement/debt-settlement-and-income-taxes


Where can i find more info about debt settlement?

A good site to check out is consumerfinance.gov. They have credit counseling and will explain what debt settlement is. Once you have the information you need there are a few top debt settlement companies. The top pick is National debt relief. There is also CuraDebt and Oak view Law Group. There are many more but these are the top 3.


Debt Settlement Company is increasing in numbers which debt settlement company should one trust with?

Off course, many debt settlement companies are increased in numbers but, one can compare the debt settlement company's policy before taking any debt settlement program. For further details, visit http://debtsolutionsgrp.com


Where can one find reviews on debt settlement companies?

Reviews on debt settlement companies can be found on Top Ten Reviews, Debt Settlement Reviews, My Money Coach, No More Debt and For the Love of Money.


What are debt settlement companies?

Debt Settlement Companies provide relief from your current budget. It will allow you to bring down your current monthly payments on your debt and as a result, you have more cash available in order to spend on other things that you may need. Not only this, but some of the options available to you will also allow you to get some tax benefits in the process. Answer: Debt settlement, also called debt negotiation, is a form of debt consolidation that cuts your total debt, sometimes over 50%, with lower monthly payments. Debt settlement programs typically run around three years. It is important to keep in mind, however, that during the life of your debt settlement program, you are NOT paying your creditors. This means that a debt settlement solution will negatively impact your credit rating. Your credit rating will not be good, at a minimum, for the term of your debt settlement program. However, debt settlement is usually the fastest and cheapest way to debt freedom, with a low monthly payment, while avoiding Chapter 7 Bankruptcy.


What are some of the best debt negotiation companies?

There are many good debt negotiation companies. Some of the best debt negotiation companies are Freedom Debt Relief, Credit Care Corporation and Debt Settlement USA.


Who are the best debt settlement attorneys in Boston?

The best debt settlement attorneys in Boston, Massachusetts work at reputable firms such as Afford & Bertron, Parker & Associates, and Worchester Debt Settlement.