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| Debt Anything to do with debt including debt reduction, debt concerns, debt consolidation and how to get out of debt |
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06-15-2010, 05:15 AM
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The advice you will get here is just what you said: do it yourself. Stay away from debt settlement or debt consolidation companies. They are expensive scams that don't do anything for you that you can't do on your own for free.
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Steve * Despite the high cost of living, it remains very popular. * Why should I pay for my daughter's education when she already knows everything? * There are no shortcuts to anywhere worth going. 
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06-15-2010, 03:14 PM
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I believe both of those things are true.
1. Forgiven debt can count as income. They lent you money and you aren't repaying it. Therefore, you got to keep the money. That is income. 2. Settling a debt hurts your credit score because it means you borrowed money and didn't repay it. That isn't a good thing. That isn't what other potential lenders want to see. They want to see a customer who pays his debts, not one who borrows money and then skips out on the bill. If you're a business and thinking of bankruptcy, you might want to go here first and see what's in there for you debit-free.us/
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