I have a friend who utilized the services of an attorney to settle about 50 grand worth of credit card debt. According to her, this was far easier and less costly than using one of the many "debt settlement" companies out there. She was told that once the debt settlement has been negotiated with the credit card company, it is recorded as a "debt settlement" on the credit score and that has far less impact on ones credit score than "a debt in collections." Is this true?
