Are there any drawbacks to settling a debt?

Related FAQs

How long will it take to settle a debt?
Is debt settlement reported to credit bureaus?
How do I find out the balance of my debt?
Should I use a debt settlement company or negotiate directly with my creditors?
What is the average time frame for debt settlement negotiations?
How do I know if I have been approved for a debt settlement?
Can I negotiate a reduced settlement amount?
Who should I contact to settle my debt?
How will I know if the debt settlement negotiations are successful?
Should I be wary of any companies offering “instant” debt settlement?

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