Debt Management Explained - Debt Settlement

Debt Settlement - A Whole New Ballgame

Debt settlement is not the same thing as debt management. There is a huge difference between the two, two sets of rules and two styles of play. Sure, it might be on the same field, and you might have the same goal posts standing around, but the game of debt settlement is much faster, much more dangerous and violent than management will ever be.

Getting slammed by debt settlement

Unlike management, in debt settlement you get slammed all at once:

BAM! These debt settlement companies pay off and settle all your high-priority debts.
BAM! They establish a type of debt consolidation - call it a loan, call it a system, call it what you will, you are responsible for the repayment over time, for the single responsibility of that consolidated debt.
BAM! You are out on your own, left to fend for yourself and do what you can to avoid future debt problems.

There is no education, no hand holding and no guidance whatsoever with debt settlement - there is only action, swift action taken against your debt. And like it or not, ready or not, action is hurtling your way.

Preparing for settlement

With management opportunities the company will make sure you are fully prepared to take every step - but hire a debt settlement professional and they are assuming you already know whats in store. But you might not - most people applying for debt settlement really have no idea what to expect once they apply and agree to the terms of the company, so here is a crash course.

Expect to never see your burdensome debts again, replaced by a single burdensome debt that will probably last for years to come.
Expect lower interest rates and a single higher monthly demand - again, for years to come.
Don't expect any assistance or consolation if you happen to accrue excessive amounts of debt while you are struggling through your debt settlement.

Expect difficulty, and expect nothing less.

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