If youre feeling overwhelmed by debt and having trouble keeping up with payments, its smart to take a breath and consider all of your options. While many people consider debt settlement as an easy way out, this strategy isnt guaranteed and has a major impact on your financial health in the following years.
What is settling your debt?
The process of settling debt refers to talking with a creditor to reduce your outstanding balance. Its an option if youre incredibly overwhelmed financially. Debt settlement may be your best bet if youre worried about getting sued for debt and dragged into a drawn-out legal battle, says Lyle Solomon, principal attorney at Oak View Law Group in Rocklin, California.
Debt settlement companies can help you nego…
Read the full article at: https://www.usatoday.com/money/blueprint/debt/settling-debt-vs-paying-in-full/