Negotiate a Debt Settlement

What are the down sides if a couple does DEBT NEGOTIATION? are there up sides?

Public Comments

1. Well down sides this will possibly go on your credit, this could also stop you from getting car, house apartment etc...things of that nature...most companies check credit reports now and if they don't like what they see that could cost you a possible position. Ups- straighten your credit history up,companies stop harassing you for payments, your bills actually get paid....you have more money to save. good luck
2. it is worth doing. they are gonna tell you this...there are only 2 things you can do to have more money available to pay off debts...spend less or earn more (like another part time job).
3. There really is no up side if you go with a debt negotiation/settlement company, but you might benefit from negotiating directly with your collectors and settle with them.
4. If you are doing it yourself, the downside is that you will not get as good a discount as a professional could......assuming we are talking about delinquent debts. Additionally, creditors like to chew up and spit out consumers, so to speak, but show a great deal of respect and even reverence for debt arbitrators.
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6. Debt negotiation or consolidation might seem like a good thing if you are being harrassed on all sides from many creditors. But, instead of owing several people you will owe just one, and you will be paying for a longer period which means more interest and although you may think it will be helping you in that you pay less monthly, overall you will be in debt for a much longer period of time. Negotiate with your current creditors. They are human, they will understand. Explain your present problems, set up individual lower payment plans and stick to them. That is the only way to get yourself sorted out. These debt negotiation companies prey on vulnerable people in debt. They're not there to help you. They're a business and in it to make money for themselves.