Are there any drawbacks to settling a debt?

Related FAQs

What happens if a debt settlement is not completed on time?
Does debt settlement hurt my chances of obtaining new credit?
What is a deemed satisfaction and how does that apply to debt settlement?
Can I negotiate more than one debt settlement at once?
Can creditors refuse to negotiate a debt settlement?
Can I negotiate a debt settlement without a debt settlement company?
Can I negotiate a debt settlement over the phone?
How do I know if debt settlement is right for me?
Can I negotiate a lower interest rate as part of a debt settlement?
Can I negotiate a debt settlement on my own?

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