Are there any drawbacks to settling a debt?

Related FAQs

Are there any programs offering debt settlement help?
Are there any legal requirements to debt settlement?
What is the best way to negotiate a debt settlement?
How can I make a debt settlement offer more attractive to creditors?
What should I do if a creditor refuses to negotiate a debt settlement?
Can I negotiate a lower interest rate as part of a debt settlement?
Should I be wary of any companies offering “instant” debt settlement?
What documents do I need to provide during a debt settlement process?
Are there any potential risks if I choose not to settle my debts?
Is there a minimum debt amount to qualify for debt settlement?

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