Are there any drawbacks to settling a debt?

Related FAQs

What will happen to my credit score after a successful debt settlement?
How much money can I save by settling a debt?
What is a “hardship program” and how can it help with debt settlement?
What fees are associated with debt settlement?
How can I ensure I don’t fall behind on payments during the settlement process?
Can I negotiate multiple debts at once during the settlement process?
Is there any way to expedite the debt settlement process?
How long does it take to complete a debt settlement?
When can I start making payments on my debt settlement?
What should I do if a creditor refuses to negotiate a debt settlement?

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