Debt settlement is advantageous to creditors and debtors alike. You can negotiate it yourself, but in most cases it’s best to seek guidance from an experienced debt negotiator at a reputable company. A settlement company makes money by charging a percentage fee on the money they end up saving you.
Example: You owe $10,000 and a debt settlement company settles it at $6,000 over 2-years If the company charges a 40% commission on money saved their “fee” is $1,600. So you will end up paying $7,600 on the original $10,0000.
Please do research before deciding on which debt settlement company (or relief company) to go with – beware of deceptive companies and practices.