Are there any drawbacks to settling a debt?

Related FAQs

How will I know if a debt settlement offer is fair?
How do I stop debt collection calls during the settlement process?
Are there any ways to avoid paying for a debt settlement service?
What is the average time frame for debt settlement negotiations?
Can I negotiate a debt settlement on my own?
What should I do if a creditor refuses to negotiate a debt settlement?
What if I can’t pay the full amount of a debt settlement?
What is the difference between debt settlement and debt management?
How does a creditor determine if a debt should be settled?
When is it best to pursue debt settlement?

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