Are you considering a debt settlement plan to try and get out from under the pressure and stress of too much credit card debt? By now, you have heard on the radio and on TV about all the debt settlement companies saying they will work with you and your creditors to reduce your debt to pennies on the dollar.
  That certainly sounds great, but the truth is, a large majority of these companies are charging you huge fees (as much as $1000 or more) to do what you can do on your own.
Entering a debt settlement agreement with many of these outfits will involve you paying them an upfront processing fee, as well as large monthly fees.
For someone who is already struggling to pay bills, this is certainly not the right solution.
  You can negotiate your debt on your own, if you arm yourself with a little information about how the process normally works.
Because credit debt is unsecured debt, banks will take any means possible to try and force you to repay.
However, unsecured debt means they do not have any way of taking your car, home or anything else if you do not pay.
  If you want to pursue debt settlement, then I highly recommend you practice DIY debt settlement, as the results will be same and you will not pay ugly fees to a company that may or may not negotiate for you.
  Importantly, you should not take a hostile approach to your bank or creditor.
Hostility will only breed additional hostility, and additional harassing calls from credit collectors.
Being logical, fact based, and well organized will go a long way in negotiating a settlement with a creditor.
Never be afraid to negotiate with them, as any deal they can reach will be more money than if you went into personal bankruptcy where they would get nothing.