Debt Settlement

Learn about the Pro's and Con's of choosing to settle your debts with your creditors.

Debt Settlement Plan Pro's

With debt settlement, you are attempting to negotiate with your creditors to pay a reduced amount, usually in a lump sum payment. This 'settlement' amount usually ranges from .20 to .50 cents on the dollar.

Debt Settlement Plan Con's

Debt settlement is risky and can wind up in a lawsuit. Make sure you know what you are doing or have a professional representing you with legal experience in the field.

Debt settlement can put your home and other secured debt at risk. If you are sued, your assets or earnings may be involved in a judgement against you if you lose.

Be Careful of 'debt settlement companies' who will not provide legal aid if you end up being sued.

Who should consider Debt Settlement?