Today there are more Americans in debt than there are Americans that are in the free and clear.
Either people spend their time avoiding collection agencies or they receive letters in the mail and harassing phone calls.
Either way they are in debt and don't know how to get out of debt.
That is why the current state of the economy keeps getting worse.
The stimulus package that the president put together was meant to assist Americans however relief still isn't in sight.
Debt settlement is ways for Americans to somewhat get out of debt without having to file bankruptcy.
To begin with creditors are really smart because they know just how bad the economy is.
And when a negotiator for debt settlement contacts them for debt that someone owes the usually agree to the terms because they at least get a percentage of what was owed.
And, in addition they know that somewhere the consumer will get aid too.
However, Americans aren't going to get as much as creditors would have you think.
Maybe they aren't being forced to file bankruptcy but through debt settlement their credit score is going to be very low and they will have to rebuild it.
And in doing so, they aren't going to be able to do a lot of things.
Like getting a loan, purchasing a house or a vehicle and anything else that takes good credit.
There are a number of benefits to using what you can with what you have but it would be even better if the economy weren't quite so bad.
This way not so many people would be in debt.
For more information about different web sites associated with the debt settlement companies you can do a search via the Internet and get several results.