My parents really need to figure out some way to get out of Debt. I just heard of a debt settlement.
How do debt settlements work? And do you advise using them? Or should they just go with a debt consolidation? They have good credit, but really need a solution.
Let’s not get the solution ahead of the situation.
I’d suggest you first read How to Get Out of Debt. The Honest and Unvarnished Truth and The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy. They will give you a great overview of what we need to deal with to get you moving in the right direction.
Then use the free How to Get Out of Debt Calculator to review your options.
Once you’ve identified a company you want to work with, then follow my step-by-step guide on what you should look for and expect from a good debt relief company.
Please post your responses and follow-up messages to me on this in the comments section below.