Debt Settlement

Debt settlement can have a long term negative impact on your credit report and, in turn, your ability to get credit. That's why the FTC and many states have laws or rules regulating debt settlement companies and the services they offer.

If you decide to work with a debt settlement company, be sure to check it out with your state Attorney General, local consumer protection agency, and the Better Business Bureau. They can tell you if any consumer complaints are on file about the firm you're considering doing business with. Also, ask your state Attorney General if the company is required to be licensed to work in your state and, if so, whether it is.