Debt Settlement – Dangerous and ineffective

Debt settlement programs try, with limited success, to negotiate with creditors. They are generally ineffective, and consumers are taxed on the amount not paid. No guarantees, and no protection from creditor lawsuits here! If your debt is small enough, and if you have the ability to pay lump sum payments to creditors, this approach may work for you, but you can probably do as good a job yourself.