Credit debt settlement promises may fall into the category of "too good to be true." It is unlikely that a credit debt settlement service can convince creditors to relinquish their high interest rates and negotiate a settlement unless they believe there is no other way for them to recover what you owe. In cases where you have missed a number of payments, it may be time for you to call a lawyer and consider bankruptcy. Credit debt settlement services make big promises and advertise low fees, but provide little service and may hurt your debt situation more than help it. Most legitimate credit counseling services provide counseling and budget help to 80% of their customers. They also charge small fees and spend a great deal of time tailoring their advice to your particular situation. Take the time to make sure who you are dealing with. If they advertise on TV or solicit clients over the phone, they are probably not legitimate. Call the Better Business Bureau to learn about potential credit counseling services, and consult an attorney if you are in serious debt and need more help than counselors can provide.