Are there any drawbacks to settling a debt?

Related FAQs

Are there any programs offering debt settlement help?
Is there a minimum debt amount to qualify for debt settlement?
Is there any way to expedite the debt settlement process?
What is the difference between debt negotiation and debt settlement?
Are there any tax implications of debt settlement?
Can I negotiate a lower principal balance as part of a debt settlement?
How do I make sure I receive a fair settlement from my creditors?
What is the average debt settlement amount?
What should I do if a creditor refuses to delete negative credit items as part of a debt settlement agreement?
Can I negotiate a debt settlement without a debt settlement company?

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