If you're drowning in overwhelming debt with no way to make minimum payments, debt settlement might help you escape the cycle and get a fresh financial start. Many people have successfully reduced their total debt by 40-60% through strategic negotiation with creditors. Secured debt such as property and car loans do not qualify.
Debt settlement isn't too good to be true; however, it can damage your credit score, be costly and is typically only available to those with a minimum of $7,500-$10,000 of debt. But for those who can't make their payments and are considering bankruptcy, it can provide welcome relief as a last resort.
You may want to consider alternatives such as debt consolidation loans that combine high-interest debt into one manageable monthly payment without the severe credit impact and are available to those with lower credit amounts.
