http://www.americandreamtheme.com/debt-settlement/ Debt settlement is the fastest way to get out of debt, but is debt settlement really your best option? en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Lots of people have lots of things to say about debt settlement, good and bad. Learn more about debt settlement here. Settling Up Usually when you "settle up" it means you pay what you owe and you are considered to be paid in full. Debt settlement only works that way partially. When you enroll in a debt settlement program, a skilled negotiator contacts your creditors to get the amount of your debt reduced 60-80%. With reductions like that, you end up paying back far less than what you actually spent. It's one thing to pay back what you actually spent without fees and interest, but you should never expect to pay back less than what you actually owe. But that's what happens with debt settlement. However, you generally have to pay it off immediately. So if your total debt is $10,000 and you only have to pay back $4,000, you better have access to that $4,000 pretty quick. (Some debt settlement companies give you more time than that, but as a general rule, if your creditors are giving you that much of a break, they want their money right away. Some debt settlement companies will pay it for you and allow you to pay them back, but expect to pay fees for these types of debt settlement programs.) One bad thing about debt settlement is that it does leave a negative mark on your credit record. There are far better options, and if you contact a debt management company, they can help you determine which of these options is best for you. If you're a homeowner, a debt consolidation mortgage is your best option. If you don't have a house or any collateral, a debt consolidation is a good option. It takes about five years to become debt free under a debt consolidation plan, but that's far better than the 18-20 years or more you'd spend in debt otherwise. Plus, you'll get big interest rate and balance reductions with debt consolidation, resulting in the savings of thousands of dollars. No matter which debt reduction program you choose to get rid of your credit card debt or other unsecured debt, make sure you look into credit counseling too. This way, once you're out of debt, you can stay out. We know that not all debt settlement companies are equal. Be sure to find the debt settlement company that's right for you. Sat, 26 Jul 2008 15:00:00 EDT http://www.americandreamtheme.com/debt-settlement/debt-settlement-programs/ Debt settlement programs can get rid of your debt fast, but are debt settlement programs right for you? en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 http://www.americandreamtheme.com/debt-settlement/debt-settlement-company/ Debt settlement company - learn about what a debt settlement company can do for you. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 http://www.americandreamtheme.com/debt-settlement/debt-settlement-companies/ Debt settlement companies are the future. Learn from debt settlement companies. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0