Can a debt settlement company guarantee a successful settlement?

In Nebraska, a debt settlement company cannot guarantee a successful settlement. Debt settlement is a negotiation between the debtor and the creditor to lower the amount of debt owed. The outcome of the negotiation is not always successful, so a debt settlement company can only attempt to find a resolution with the creditor. Debt settlement companies offer a variety of services including analyzing debts and developing a financial plan to settle the debt. They are also able to negotiate with creditors on the debtor’s behalf in an effort to have the remaining debt reduced or even eliminated. Debt settlement companies may be able to negotiate better repayment terms, such as reduced interest rates or longer repayment periods. Creditors, however, are under no obligation to accept any of the offers from the debt settlement company. Therefore, there is no guarantee that the debt settlement company will successfully settle the debt. The debtor should take caution when engaging a debt settlement company because there is no guarantee that their services will be successful in settling the debt. Debt settlement can be a helpful option for those who are struggling with debt and want to avoid bankruptcy, but they should be aware that success is not always guaranteed. Debtors should thoroughly research the debt settlement company they choose and ask questions such as what their success rate is and what they charge for their services.

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Can a debt settlement company guarantee a successful settlement?

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