Are there any drawbacks to settling a debt?

Related FAQs

Is debt settlement better than bankruptcy?
Are there any legal risks associated with debt settlement?
Is debt settlement reported to credit bureaus?
How can I make a debt settlement offer more attractive to creditors?
Can I settle a debt if I’m unemployed?
What is the average time frame for debt settlement negotiations?
What penalties or interest can creditors charge when settling debt?
What should I do if I can’t agree on a settlement amount?
How do I know if a debt settlement company is reputable?
Are there any discounts available for debt settlement?

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