With bankruptcy filings and foreclosures continuing to plague this country, there are many people in serious debt trouble and looking for help. You don't have to go too far to find some possible solutions, however, since the credit counseling business has nearly doubled in recent years. The problem isn't finding a service that offers debt settlement advice, the problem can be in finding a reputable one. Debt settlement is a difficult area of debt reduction, since it is generally only available to those who have missed at least three payments already. In addition, your creditors must believe that you are considering bankruptcy, otherwise they would be unwilling to agree to settle for less than the total remaining debt. After all, if you do file bankruptcy, creditors would be unlikely to recover any of their money, while a settlement offers some return on their loan. Because a debt settlement agreement can take some time, disreputable services have the opportunity to charge high fees, and statistics show that many don't even complete the process. For that reason it may be a wise decision to consult a debt settlement lawyer if you are considering this option.