What Is A “Debt Settlement Agreement"?

Creditors sometime will take less than the full amount of what is owed, just to get the money quickly. That is what a debt settlement agreement does. However, you must be careful because there are lots of scam artists and companies that charge very high fees to settle debt for you and sometimes do very little for it, if anything at all. Just like credit counseling, a debt settlement agreement can still leave a negative remark on your credit record.

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