Are there any drawbacks to settling a debt?

Related FAQs

Can I negotiate a lower interest rate as part of a debt settlement?
Are there any discounts available for debt settlement?
What happens if a debt settlement is not completed on time?
What is the process for appealing a denied debt settlement?
How will I know if the debt settlement negotiations are successful?
What will happen to my credit score after a successful debt settlement?
How long does it take to complete a debt settlement?
Should I be wary of any companies offering “instant” debt settlement?
What is the difference between debt settlement and debt management?
How long will it take to settle a debt?

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