Have you already experienced being overwhelmed by the burden of having debt? If yes, then probably, you have already felt that choking, suffocating feeling that many people experience. According to the founder of Your Best Mindset, Jim Brown, “Debt is a pervasively significant stressor with household debt in the U.S. recently reaching record levels surpassing $14 trillion.” When the COVID 19 pandemic surge came, many good businesses failed; many companies closed and many people became in debt. Try to imagine this: You have a comfortable 25-year career at a corporation. And then one day, your boss walks up to you
Debt settlement is when you negotiate with a creditor to settle your debt for less than you owe. Only past-due debts are normally settled by creditors. Your credit score will suffer if you cease making payments to pay off debt because of the overdue payments. Although you can engage debt settlement firms, their services are not free. You have two options: you can settle your debt on your own, or you can think about credit counseling.