The best service to use for debt settlement is obviously the one that works best for you.
Debt settlement is a way of eliminating debt and finding the best possible outcome for your situation.
Debt settlement companies will help a client balance their finances and make it manageable to pay down credit card debt with as little long term effects as possible.
Debt restructuring cannot fix the damage already done to a credit file but can provide relief from creditor calls and further damage to a credit file.
The majority of companies will charge a minimum of 10% to restructure debt and this money is taken each month from the monthly payment.
Debt management is up to the individual and a consolidation company can only help if the payments are made on time.
Once the payment stops the client is dropped from the program called a DMP or debt management program.
Most clients fail to complete the program regardless of the consolidation company they sign up with.
This is largely due to a preexisting financial problem, and paying through a program puts added strain on an already tight budget.
Most consolidation companies realize this but will still make money for however long a client pays.
Joining a debt settlement service that works best is up to the client.
Most companies are legitimate and will provide the necessary tools for a client such as calling creditors, arranging a reduced payment and paying the creditors each month.
Once the payment is pulled from the clients bank account it is distributed equally to the creditors.
Most clients have a 3-5 year debt management plan based on an unsecured debt of $10,000.
Finding a suitable company is up to the client.