Are there any drawbacks to settling a debt?

Related FAQs

How do I report a debt settlement to the IRS?
How long will it take to settle a debt?
Can I negotiate a debt settlement without the help of an attorney?
How much should I expect to pay for a debt settlement service?
Are there any programs offering debt settlement help?
Do I have to pay taxes on debt settled through negotiations?
Is debt settlement a better solution than bankruptcy?
What should I look for in a good debt settlement company?
Can a debt settlement company guarantee a successful settlement?
How do I know if a debt settlement company is legitimate?

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