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Debt Destroy

Is Settling Debt Good? What Do You Think?


words are enough Rep Points:
Posted on September 4, 2009 at 12:45 am
i have a sizeable amount of debt and am wondering if it's okay to settle my debt. i have heard scams about this but i think there is always a positive side to every situation and i am always willing to consider and try new things. so, please let me know, is settling debt good? or should i look at other options?

canopener Rep Points:
Posted on September 4, 2009 at 1:07 am
what are the other aleternatives other than settling debt anyway?

Lurker (Guest) Rep Points:
Posted on September 4, 2009 at 1:52 am
That entirely depends on your financial situation and your current debt amounts. Some debt consolidation methods work best depending on certain cases. Could you fill us in, please?

Karess Rep Points:
moderator
Posted on September 4, 2009 at 2:03 am
Is settling debt good? Yes, if you are able to sustain making payments towards the settlement on a monthly basis. Yes, because it is a better alternative to bankruptcy. Also, yes, because it allows a consumer to pay for a lesser amount than they actually owe.

ladyinwaiting Rep Points:
Posted on September 4, 2009 at 2:20 am
Is settling debt good for your credit report?

Purple Cow Rep Points:
Posted on September 4, 2009 at 2:44 am
Well the fact that your debt is already in delinquent status doesn't make it good. Settling your account may be reflected on your credit report as "settled" but as far as i know it doesn't do any drastic changes on your score.

words are enough Rep Points:
Posted on September 4, 2009 at 3:03 am
i have secured debt amounting to $10k. and i have unsecured debt approx to $15k. can i settle both debts?
Posted on November 16, 2009 at 5:26 pm
I am able to help anyone in the United States struggling with their credit card debt. Rapid Debt Settlement will settle your debt for 55% of what you owe and literally cut your payments in half. Email Bill Shannon for a free consultation billshannon@financier.com or call me at my office. The number can be found at www.rapiddebtsettlement.com