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Podcast: Optimal Finance Daily - Financial Independence and Money Advice
Episode: What is Debt Settlement and How Does It Work? by James Lambridis of Debt MD on Debt Settlement Explained
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Episode 3494:
James Lambridis explains how debt settlement companies negotiate with creditors to reduce the total amount you owe, offering a potential path out of overwhelming credit card or medical debt. He also outlines the structure of settlement plans, including escrow-style savings and lump-sum negotiations with creditors. Just as importantly, Lambridis highlights the risks, tax consequences, credit score damage, and possible scams, so readers can make informed decisions before enrolling in a...