Are there any drawbacks to settling a debt?

Related FAQs

What is the difference between debt settlement and debt consolidation?
Can I negotiate multiple debts at once during the settlement process?
Are there any potential risks if I choose not to settle my debts?
Can I negotiate debt settlement with multiple creditors at once?
What will happen to my credit score after a successful debt settlement?
How can I ensure I don’t fall behind on payments during the settlement process?
Can I negotiate a lower interest rate as part of a debt settlement?
Is there a statute of limitations on debt settlement?
Are there any alternatives to debt settlement?
Do I need to hire a lawyer to negotiate a debt settlement?

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