A debt settlement company is a company that helps people negotiate with their creditors to reduce their debt. They typically charge a fee for their services, which is usually a percentage of the amount of debt that is settled.
Debt settlement companies can be helpful for people who are struggling with overwhelming debt and who are unable to make their monthly payments. However, it is important to note that debt settlement can have a negative impact on your credit score. Additionally, not all debt settlement companies are created equal. It is important to do your research and choose a reputable company that has a good track record of helping people settle their debts.