Posts Tagged ‘settle debt’

Debt Settlement Can Reduce Balances But…

Credit card debt is a major problem these days and medical debt is one of the major causes of personal bankruptcy. Many are at wits end, worrying about debt they cannot pay and many are looking at debt settlement as a solution to reducing that debt.

Debt settlement is a process where your outstanding debts are greatly reduced and you are required to pay only a portion of what you originally owed your lender. You could settle up to 40% – 50% of what is owed.

Debt settlement can have you debt free in a 12-36 months compared to years of paying high interest balances.

What About All The New Debt Relief Companies?

Debt relief is big business because many people are in financial trouble these days. Stinking economy, delinquent mortgages, credit card debt at all time highs, all provide opportunities for the scammers to jump in make some money and move on.

It only takes a few bad apples to spoil it for everyone else. So beware and do a little research before signing a contract with any debt relief company.  

You should stay away from companies where their web site that is newer than a few months old.  To check the age of the web site go to any domain registry service (for quick checks I use whois.com). Type in the web site domain name, scroll down and it will show you when it was created.