Debt Settlement Advice - Does Debt Settlement Make Sense?

April 29, 2010 - PRLog -- Let me congratulate you for asking a question that each and every individual must ask before finalizing the debt settlement deal. The idea of a fifty to sixty percent discount sounds too good to be true. Hence, if you not consider the disadvantages of the deal and if you do not question its fundamental logic, then you are obliviously making a very big mistake.

William Roberts, editor of http://www.DebtReliefRightNow.com, notes the importance of advocacy for consumers during this economic period:
“The public is experiencing a severe crisis with debt and agencies must be set up for the large amounts of people who will require assistance.”

By asking this question, you are protecting yourself from many fraudulent service providers who simply focus on the benefits and try to make you believe that settlement has no disadvantages. Here is some debt settlement advice - never deal with a service provider who wants to believe you that all is hunky dory with debt relief.

The fact that you are seeking debt relief means that you are in financial trouble. Never will you get a solution that lets you enjoy all benefits without incurring any cost whatsoever. Hence, when you are searching for debt settlement advice, make sure you ask the service provider to explain the disadvantages of debt settlement.

Further, you should find out whether you qualify for this debt relief option. Does it make sense? Should you be going in for this solution? Or should you be going in for some other option that offers more benefits at lower cost?

All this analysis should form a part of your debt settlement advice. If it does not, you are obviously not dealing with the right service provider.

A settlement deal will make sense only if you are naked deep in debt. If you are still in a position to manage your monthly expenses and your debt repayments and if you still have some money left over to plan your future, you obviously should not be thinking about something as drastic as settlement.

On the other hand, if you are very close to bankruptcy and if you have not repaid your credit card debt even once in the past three months, it is obvious that you need help and you need help very quickly. A debt settlement deal will make sense only if you rely on your discipline and commitment to repay the balance amount in full.

If you receive a debt settlement advice on the various negotiating points but if you do not get any debt settlement advice about the right manner to proceed and repay the balance amount, you are not being given proper advice. You should consider all the pros and cons and find out whether the settlement deal makes hundred percent of sense.

Only then should you proceed ahead and sign on the dotted line. Until then, you should always keep searching for other debt relief options that might help you better.

http://www.DebtReliefRightNow.com

# # #

If you are one of the millions of Americans who has over $10,000 in unsecured debt, it is time you found out about the debt settlement options available to you. Due to the current economy an overwhelming amount of people are in debt, creditors are having no choice but to agree to debt settlement deals.

http://www.DebtReliefRightNow.com