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Debt Settlement

Why you should choose Take Charge America and Debt Management plans over the Debt Settlement option

Risks of Debt Settlement

Debt settlement may sound appealing, but it often comes with serious consequences:

High Fees
You could end up paying large amounts to the settlement company.
Tax Surprises
Forgiven debt may be taxable, leading to unexpected tax bills.
Credit Score Damage
Missing payments can drastically lower your credit score—making it harder to rent, get a loan, or even find a job.
Hidden Costs
Any savings may be offset by long-term financial harm.

Debt Settlement vs. Debt Management

When choosing the best debt repayment solution for you, it’s important to think about your long-term financial goals, rather than what’s most convenient in the near future.

A debt management plan can reduce the length of time it takes to repay credit card debt and lower the total amount of interest paid. Participants receive ongoing education to develop effective spending habits, budget to meet living expenses, manage debt and save for the future. The following chart offers a side-by-side comparison of the two options.

Debt Management
  • No management points available.
Debt Settlement
  • No settlement points available.

Frequently Asked Questions About Debt Management

Debt Settlement is very efficient and it will help you to settle your debt.

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You can regain control of your money and peace of mind.

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