Facts You Should Know About Negotiated Debt Settlements

One of the most popular credit counseling services sold on the Internet these days is the process of negotiating with creditors to settle for a one-time payment that is substantially less than the original debt. The problem is most people have no idea what they’re getting into and many of them wind up being taken advantage of.

The negotiating company will tell you to stop paying your creditors and start sending your payments to the counseling agency. And they tell you that in time often up to 3 years they will settle your debts for you for less than 50 Cents on the Dollar.

But they don’t tell you...