Consumers can arrange their own settlements by using advice found on web sites, hire a lawyer to act for them, or use debt settlement companies. Some settlement companies may charge a large fee up front (often called “good faith” money); or take a monthly fee from customer bank accounts for their service, possibly reducing the incentive to settle with creditors quickly. Before deciding to hire a debt settlement company, be sure to check out the company with the Better Business Bureau and the Attorney General’s Office of your State. We strongly caution the use of debt settlement companies because in our experience our clients often never have their debts settled.

Posted in: Debt Settlement FAQ