What are the risks of debt settlement?
Debt settlement is an aggressive, but effective, approach to debt management, and as such it does have some risks associated with it. These include the potential that your creditors will still decide to take you to court to recover the remainder of your debt, the possibility that you may have to pay some taxes, and a negative impact on your credit report. If you’re already having trouble meeting your financial obligations, chances are that your credit is already suffering. Having successfully undergone your debt settlement program, you will then be able to rebuild your credit. Not all of these risks are applicable to everyone, and you may wish to consult with an accountant or a legal professional before signing a debt settlement contract. It’s important to remember that debt settlement is becoming increasingly common, and that many people feel that these risks are worth the benefits of potentially paying substantially less in order to become debt-free, and possibly becoming debt-free w
