Know the rules, and beware of scams, before trying to settle bad debts | Your Funds

“Millions of Americans are behind on debts, making debt settlement and debt consolidation big business” writes Syndicated Columnist for If a debt-settlement firm recommends that you stop making all payments and let accounts become further delinquent, be nervous and skeptical.Here are some things to learn: • What are the firm’s minimum debt requirements, and do your debts qualify for help?. Debt consolidation, typically, involves using personal installment loans to pay credit-card debts and get a handle on them in one place.If your debts are the result of a medical condition and are owed to a hospital or a doctor’s practice, a debt-settlement firm may not be much help.

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