This is just going to be a short post because I just read something about debt settlement and this thought floated to the top of my head.
Did you know that whether you use a debt settlement company or settle debt on your own with your creditors, you may have to pay tax on any amount that is forgiven? Your creditors are required to supply the IRS with a 1099 if the forgiven amount is 600.00 or greater.
Reputable debt settlement companies will tell you this but others may not or they may totally play it down.
Creditors definitely won't tell you this so you need to be aware of it when weighing your financial options.
Good Luck To You!