Are there any drawbacks to settling a debt?

Related FAQs

What is the best way to document a debt settlement?
Does debt settlement hurt my chances of obtaining new credit?
Are there any programs offering debt settlement help?
What fees are associated with debt settlement?
How do I protect my credit score during a debt settlement?
How can I ensure I don’t fall behind on payments during the settlement process?
What penalties or interest can creditors charge when settling debt?
What should I look for in a good debt settlement company?
How do I know if I have been approved for a debt settlement?
What are the risks of choosing to settle a debt?

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