Are there any drawbacks to settling a debt?

Related FAQs

What is an unsecured debt and how does it impact debt settlement?
What should I do if I can’t agree on a settlement amount?
Are there any discounts available for debt settlement?
What is the difference between debt settlement and debt consolidation?
How does a creditor determine if a debt should be settled?
Can I be sued while in the process of settling a debt?
What happens if I can’t afford to settle the debt in full?
What is a “hardship program” and how can it help with debt settlement?
What are the potential consequences of a failed debt settlement?
What are the guidelines for debt settlement under law?

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