Myth #1: "Debt settlement ruins your credit score forever."

Fact: "Debt settlement will hurt your credit score in the short term, but your credit score will build back with time and on time payments but this time, you won’t be saddled with debt."

Myth #2: "Debt settlement companies charge huge fees upfront."

Fact: "Reputable debt settlement companies, like ours, charge fees only after successfully negotiating a settlement. If the debt with a creditor isn’t settled, you don’t pay."

Myth #3: "You can easily negotiate debt settlements by yourself."

Fact: "Our settlement team has 20+ years experience in which they have established relationships with major creditors across the country. They know what the creditors will typically settle for so settlements tend to be more favorable than doing it on your own."

Myth #4: "Debt settlement is a quick fix for financial troubles."

Fact: "Debt settlement is a process that can take time, requiring negotiation with creditors. It's part of a larger strategy for financial recovery, not an instant solution. The general window is 12-48 months depending on debt amount and payment schedule. Some clients see program completion in less than 1 year."

Myth #5: "All debt settlement companies are scams."

Fact: "While there are unscrupulous companies in any industry, many debt settlement firms are legitimate, regulated, and committed to helping clients manage their debts responsibly. If any companies ask for fees upfront, run."

Myth #6: "Debt settlement only works for credit card debt."

Fact: "Debt settlement can be used for various types of unsecured debts, including credit card debts, medical bills, and personal loans."

Myth #7: "You can’t control which debts are settled."

Fact: "Clients often have input on which debts to prioritize in the settlement process, although final decisions depend on negotiations with creditors."

Myth #8: "Debt settlement always leads to lawsuits."

Fact: "While there is a risk of legal action from creditors, reputable debt settlement companies, like ours, work to negotiate settlements before it reaches that stage. Depending on the state you’re in, a lawyer may be retained to help with negotiations. This will all be discussed by our debt specialist when going over program options."