Debt Settlement

Interest in debt settlement services is in steady decline. High risks and fees, taxes penalties, and hit to one’s credit score do not make it an appealing option. The rise of free credit-counseling agencies and debt management services have also sparked this decline. Additionally, consumers are doing better with debt – serious delinquency is only at 1.43%. Historically, too, right after an economic crisis like the 2008 crash, people tend to cut down on spending and debt accumulation. Finally, the stigma of carrying debt has decreased: 43% of Americans believe lots of hardworking, fiscally-responsible people have debt.