Before You Choose Debt Settlement, Here Is Some Information You Should Consider.
Debt settlement can cut credit card and other loans in half. Whats the catch?
In most cases the creditor will ask for one lump sum. Catch 22, if that person had the money they might not look into debt settlement. They need to make sure the lure of paying off debt doesn’t leave them cash poor and in a worse situation.
Debt Settlement will usually reflect poorly on a credit report. Food for thought, imagine someone applying for a loan in the future. The new found creditor is looking over their history and it shows a debt settlement. That creditor will have to take that in consideration and could deny their loan or charge a much higher interest rate.
If someone is planning on applying for a loan in the coming years, look into other options.
Make sure to investigate all options when dealing with Debt. The pressure of debt can make people do desperate things.