A lively debt settlement program is of such a good thing. This is a technique in which one must fall past due on their unsecured debts’ while saving up the required cash on the side, to then negotiate a one time settlement, at a much lowered sum from the balance owed. While debt settlement does have a temporary negative effect on someone’s FICO score, it is no where near as harmful as bankruptcy. Plus debt settlement is not by any means a public record, however a bankruptcy will be a public record for the entirety of the consumers life.

Tags: bankruptcy record, debt settlement program, fico score, public record, unsecured debts