Are there any drawbacks to settling a debt?

Related FAQs

Is debt settlement reported to credit bureaus?
Are there any risks associated with using a debt settlement firm?
How do I make sure I receive a fair settlement from my creditors?
Are there any ways to avoid paying for a debt settlement service?
When can I start making payments on my debt settlement?
Are there any tax implications of debt settlement?
Are there any legal risks associated with debt settlement?
How much should I expect to pay for a debt settlement service?
What is a deemed satisfaction and how does that apply to debt settlement?
How do I protect my credit score during a debt settlement?

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