It is important that before you consider filing for bankruptcy protection or go on a debt management plan that you consider contacting a debt settlement company first.
What is debt settlement? Debt settlement is a way of negotiating and reducing the amount of debt you have with each creditor. A debt settlement company can negotiate with your creditors on your behalf and get them agree to a lesser amount. In addition to negotiating the amount owed to each creditor, a debt settlement company will also send them the payment for you, take care of all the paperwork and agreements reached with each company and also negotiate with how the settlement of your debt will be reported to the credit bureaus.
You may wonder why companies would agree to lowering the amount that you owe them. In most cases companies realize that if you are not paying back the unsecured debt that you owe them, unless they can come to some terms to help you pay it back they will likely end up getting nothing. So when you look at it from their perspective, something is definitely better than nothing, even if it is less than they were originally owed.
Using a debt settlement company can be...
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