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Are debt settlement companies a good idea?

Short answer

Be careful. Many charge high fees, hurt your credit and don’t settle all debts. Try lenders and nonprofit counseling first.

Rules differ by state. This is general information, not legal or professional advice.

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Official sources

CFPB: trouble paying debtsconsumerfinance.gov
HUD: find a housing counselorhud.gov
FTC consumer advice: debt relief scamsconsumer.ftc.gov