Learn how to use debt settlement to strategically eliminate credit card debt
When to use debt settlement and how to avoid being scammed. Debt settlement is often treated like a scam, and that reputation is not entirely undeserved. The industry is not as heavily regulated as other debt relief services. For example, the FTC did not put any rules in place about charging advance fees for settlement programs until October 2010. Prior to that, settlement companies were notorious for charging high fees up front; then they would suddenly close shop without providing any actual work for the consumer. The industry has definitely made some improvements since then. And there are legitimate companies that can help you settle your debt for pennies on the dollar, just as advertised. As long as you’re willing to accept the credit damage, this can be a viable way to get out of debt. The articles below can help you understand what’s happening in the debt settlement industry today. You can find more information about settling debt at the bottom of this page.