Debt Settlement Companies: How the Process Works

Debt settlement companies can be very useful tools when it comes to reining in an out-of-control debt spiral. Unfortunately, a number of individuals, some criminal and unethical, others just inept and inefficient, have set up companies that end up making a consumer's debt problems worse rather than better. In this series, WalletPop takes a look at the debt settlement industry, explaining how it works and talking to some of its players. This is the third installment in our debt settlement series.

After much thought -- and a lack of sleep over your growing debt -- you've decided to try to work with a debt settlement company to get some relief. But just how should the process work?