Whether you listen to the radio, watch television or have an e-mail account, you have probably heard or read an advertisement like the following. If you have more than $10,000 in credit card debt, you may be able to settle your accounts for pennies on a dollar. Although that may sound very enticing, there is a lot that is not being told to you.

Depending upon which debt settlement company you choose, you could end up paying up to 25% in fees. Although they might also lead you to believe that they can get settlements that you cannot do on your own, this is not true.  If you are considering settling account with collection firms, what should you do?

Do not forget that there are many variables that have to be taken into consideration when it comes to settling a collection account. All bill collectors want is the money. As long as you do not do anything that negatively affects them or their loved ones, they not only don’t care where you get the money but they also don’t care if it negatively affects your credit or your finances.

I know all the variables such as income, investment status, possible tax liability and other things that need to be considered before you make a quick decision to settle an account. If you are ready for some unbiased help with your unique situation, you can either call me at 313-744-5977 or e-mail me at [email protected].