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What are the advantages/disadvantages of both Credit Counseling or Debt Settlement?
Edwards Finance > Debt Consolidate
Q. I know someone who has approximately $34,000 U.S. of credit card debt. This person is considering Credit Counseling or Debt Settlement, in order to get out of this amount of debt. What are the advantages/disadvantages of both Credit Counseling or Debt Settlement? Given this aforementioned financial situation, what would be the best strategy to handle this debt? Any kind, sincere, and honest (but NOT critical) advice regarding this subject will be greatly appreciated.
A. Sorry, critical advice is what you'll get from me. Why is the "solution" so often to try and get out of paying the debt, or two haggle and reduce the legitimate debt, rather than to buckle down, get a second or third job for a few years, and pay the damned things off as per the agreements with the creditors? Why is this option never considered?
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