MoneyWatch: Managing Your Money
What are the risks of trying to settle debt on your own?
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By
Angelica Leicht
A DIY approach to debt settlement can backfire if you don't understand the legal, financial and tax risks involved.
MoneyWatch: Managing Your Money
What are the risks of trying to settle debt on your own?
We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms.
By
Angelica Leicht

Debt relief can reduce what you owe, but the wrong strategy could also cost you more than you ultimately save.

Negotiations are typically less stressful if you know how to improve the odds of reaching a settlement agreement.

Not every debt payment is set in stone. Here's where negotiating could help lower what you owe.

Debt relief can be an effective option, but the company you choose plays a significant role in the outcome.

Home equity levels remain high, but using that equity to consolidate your debt can come with big trade-offs.

Before you consolidate your debt, it's important to make sure you're solving the right financial problem.