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Debt Settlement  |
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The term debt settlement refers to the practice of paying off all debts at a discount. Debt Settlement companies usually instruct borrowers to cease paying their bills for a limited time, in an effort to entice the credit card companies to settle the debt at a discount. Although this is a relatively quick and effective way to reduce your credit card debt, it seriously damages your credit. The long-term cost of the damage to your credit will usually far outweigh any short-term savings on the credit card debt. |
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