We have all seen the TV commercials or heard the radio ads telling us, that we do not need to repay our credit card debts in full. Better yet, we actually have the right not to pay our creditors. Truth is we do have the right not to pay our credit card accounts. We also have the right not to pay our mortgage loan, our car loan or our electric bill. However, it is also true that our credit card companies, our mortgage lender, our car finance company, and our electric company all have legal rights to collect the money we owe them, including suing us in court, foreclosing on our home, repossessing our car, and cutting off our electric service.
So if the old adage “If it sounds too good to be true, it probably is” comes to mind, consider the following about these Debt Settlement claims.