What is a debt settlement plan and how does it work?

Related FAQs

Are there any potential risks if I choose not to settle my debts?
Are there any laws governing debt settlement?
Is debt settlement better than bankruptcy?
Can I negotiate a debt settlement on my own?
Is it possible to settle a debt for less than the amount owed?
Can creditors refuse to negotiate a debt settlement?
How will I know if the debt settlement negotiations are successful?
What happens if I can’t afford to settle the debt in full?
Are there any tax implications of debt settlement?
Is debt settlement reported to credit bureaus?

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