{"id":101,"date":"2017-10-17T17:58:06","date_gmt":"2017-10-17T17:58:06","guid":{"rendered":"http:\/\/legaldebtdismissal.com\/?p=101"},"modified":"2017-10-17T17:58:06","modified_gmt":"2017-10-17T17:58:06","slug":"pros-and-cons-of-debt-settlement","status":"publish","type":"post","link":"https:\/\/www.legaldebtdismissal.com\/pros-and-cons-of-debt-settlement\/","title":{"rendered":"Pros and Cons of Debt Settlement"},"content":{"rendered":"

Pros and Cons of Debt Settlement<\/strong><\/h2>\n

Debt settlement is a method through which a creditor and debtor negotiate on same grounds in order to fix the debt. Debt settlement services are provided by many for-profit organizations. These firms can negotiate and convince a creditor to fix debt with money that is less than the actual debt money.\u00a0 In return for debt settlement offer, these companies make a debt settlement agreement with debtor asking him to transfer a specific amount of money from savings into organization\u2019s account every month. The firm takes its fees for negotiation and forwards remaining money to the creditor each month.\u00a0 Consequences of debt settlement may result in an advantageous situation for debtor and seems a debt dismissal but in some cases, debt settlement proves to be a disadvantage for the debtor. Therefore, whenever you apply for debt settlement, it\u2019s important to consider pros and cons carefully. Below are described pros and cons of debt settlement<\/a>.<\/p>\n

Pros of Debt Settlement<\/strong><\/h2>\n