Debt Settlement Companies
Finding debt settlement companies is like finding Nemo. You definitely have to seek comfort outside the shell if you want to explore debt settlement companies.
Debt Settlement Companies
If you're looking for debt settlement companies, chances are you'll have more luck on the Internet than you will in the yellow pages!
Finding Debt Settlement Companies
If you look in the yellow pages, you might find a handful of debt management companies who may or may not deal in debt settlement. Depending on where you live, you might even find an ad for a debt settlement company or two. But if you search Google on the term debt settlement companies, you'll get 35,800,000 results. Now, if you're familiar with Internet searches at all, you'll know that those results aren't all websites for debt settlement companies. But you'll certainly be able to find more debt settlement companies online than anywhere else.
When shopping for debt settlement companies, make sure you choose one that you only have to pay after they get your debts settled, and avoid any debt settlement companies that want you to pay upfront. Most of these companies want you to pay with a cashier's check, too. Why don't they want you to have a paper trail? Hmmm.....sounds fishy. Again, only go with a debt settlement company that has you pay after they've produced results.
Pros and Cons of Debt Settlement
Here are some of the benefits of debt settlement:
- Some debt settlement companies are able to get the amount you owe your creditors reduced by 60-80%!
- Your creditors will no longer be harassing you about the money you owe them
- You won't spend your life in debt
- You'll save money (because you aren't paying back as much as you actually owe before interest rates and fees)
Here are some of the cons of debt settlement:
- It will have a negative effect on your credit report for 7-10 years
Sure, that's the only negative aspect. Well, that and the fact that you've basically "stolen" money since you don't have to pay back what you really do owe. There are other options to get out of debt that are more reputable than debt settlement. Choose this only if it's your absolute last resort before bankruptcy.
