Yes, there are many advertisements for debt settlement companies.
Some of these companies provide an excellent benefit to those that may be in dire need of a solution to their debt problems.
Settling a lump sum payment with those credit cards you are maxed out on can definitely provide a much needed solution to your woes.
However, you do not want to enter into any agreements flippantly.
This is because you will definitely want to avoid dealing with any potential rip offs as they will get you into more trouble than they are worth.
What can be considered a debt settlement rip off? Basically, it can be any company that does anything without your knowledge or agreement and delivers a decidedly less than helpful response to your problem.
For example, the settlement company does need to charge for its work or else it would not be in business.
If these companies were not in business, you could not access their help.
However, there is a line between helpful and less than honest that should never be crossed.
Sadly, there are some companies out there that deliver terrible service and hidden fees.
Some may even convene you to miss payment after payment in order to raise the odds of settling your debt.
Well, this may be the case but such a practice can prove devastating to your credit rating.
Would you really want to work with such companies? Here is some very good news: there are tons of legitimate settlement services out there and you do not need to deal with those companies that are decidedly less than honest.
Such companies will hurt more than help and that is why they are recommended to avoid.
Once again, there are a number of great companies out there.
Why not work with them?