Question by Peace Lover: Is it safe to rely on Debt Settlement Program to free from one’s credit card debts? How about credit score?
I recently heard on radio about a debt free program. They officially negotiate on your behalf with the credit card companies. What may be the Cons? Is it safe to rely on Debt Settlement Program to free from one’s credit card debts? How may it affect one’s credit score?
Best answer:
Answer by efflandt
Do you really believe those commercials that say there is a secret way to get out of debt that creditors do not want you to know about?
If you do not pay your debts or settle for less than the amount owed, it trashes your credit score as it rightfully should. So beware of any that take your money, keep their cut without paying your creditors, and then try to settle for less. Many creditors do not fall for that and will still sue you for a court judgment (which gives them other methods to get their money from you).
Know better? Leave your own answer in the comments!
“free debt settlement”
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