Debt settlements laws vary from state to state. There are a selection of reputable debt settlement programs in Kentucky to chose from for the needs of state residents.
Selection
When selecting a program, it's best to chose a nonprofit and to make sure the program is in good standing with the Better Business Bureau. The program should not charge you at all or only charge a nominal fee for its services. In most cases, you will make a lump payment monthly to the agency and the agency will pay your creditors the monthly amount it negotiated.
About
Debt settlement is the process where debts such as credit card debt and medical bill payment is negotiated. Typically, the interest rate is lowered or a portion of the debt may be forgiven. Debt settlement should not be taken lightly because it can impact your credit rating.
Programs
Programs that are accredited by the Better Business Bureau for Kentucky residents include Apprisen, In Charge Debt Solutions and Money Management International.
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