
One day, you suddenly realized that you are heavily in debt. All your credit cards are used to the maximum limit and the creditors keep calling to remind you on your overdue payments. You are considering whether you want to go for a debt settlement or bankruptcy. Sure, debt settlement sounds good because you do not need to go through the lengthy legal process if you declare bankruptcy, but before you decide, you need to spend a bit of time to weigh the pros and cons of having a debt settlement.
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