Solving a Debt Dilemma with Debt Settlement  By Stacy Johnson.
Last updated 7 February 2010. 7 comments  Debt settlement
companies are advertising a lot these days on TV, radio and
online: you've probably got debt settlement Google ads around
this article right now. If you're in a jam, they might sound
tempting. Should you bite? I’d be super-careful  Here’s an
excerpt from my latest book, Life or Debt 2010, about what debt
settlement is, how it works, and whether it’s a good idea.
Imagine that I owe you some serious money, say 10 grand. I
faithfully made payments to you when I first borrowed the money
five years ago, but since then I've lost my job and moved away.
Now the payments have stopped. You've called me over and over,
but despite your harassment, you haven't gotten a payment from
me in over a year.   Then out of the blue one day I call you up
and say, “Gee, I’m really sorry about being such a jerk. But I'm
still having trouble making ends meet. Here's what I propose:
I'll borrow four grand from some