When you are in debt and unable to pay your debt, it is time to think about debt settlement. Debt settlement is one of the best debt relief options. It is an alternative to bankruptcy. Bankruptcy can leave scars on your credit report for 10 years. Debt settlement gets you out of debt sooner.
With debt settlement, a creditor has decided to accept less than the full amount you owe as full repayment. It also means that collectors can no longer hound you day in and day out and you do not need to fear that you may get sued for the debt. Many people think debt settlement companies are expensive. This is not true; there are many debt relief companies that offer affordable monthly payments with good customer service.
Debt settlement has now become the number one alternative to bankruptcy. It has been around much longer than bankruptcy and has proven itself to be a much safer plan for consumers. When compared to bankruptcy, debt settlement has a much lower success rate. If you can follow the program correctly, you will see results within a few months. Debt relief services do not make or claim they will get you out of debt overnight.