Debt Settlement Decoded
These are expressions you have heard too often from debt settlement companies, “we help you avoid bankruptcy”, “reduce debt by 50%”, “we negotiate with creditors”. While all of these promises may sound to be too good to be true, the truth is, they come at a price, if they ever do come true in the first place. Debt settlement agencies usually negotiate with the creditors in behalf of the client in order to reduce the amount of debt he or she is required to pay back. Once a settlement program has been initiated, the client is usually advised to cease all payments and contact with the creditors and that all monthly payments be sent to the settlement agency.