Thousands of employees of debt settlement companies will find their employment terminated by November, 2010.

Debt settlement sounds attractive until you realize what it costs you.

Advertisements for debt settlement services are every where you look, promising to eliminate your debt quickly and easily.  At best, these companies will cause you much more trouble than you realize.  At worst, you will run into an outright debt settlement scam.

"Eliminate your debt" could just be a big scam.

Debt negotiation services may not always act in your best interest.

Periodic payments provide ongoing income and reduce the risk of blowing a lump sum through poor financial choices.

While credit card companies and government regulators shun debt settlement companies, Chase makes it official that they will not negotiate with them.

Check with the BBB before doing any business.

Be prepared to make a lot of phone calls.

Being well informed about your financial history can help you negotiate with credit card companies that ultimately want your business.