The debt settlement companies undertake the complete negotiation process and accomplish an agreement with the creditors. Through the established relationships that they have with the creditors and financial institutions, they are able to successfully negotiate the debts of their clients at a substantial discount.Visit here for more information:"http://www.debtsolutionsgrp.com/"
However, you should be aware in advance of the effect entering into a debt settlement will have on your credit. Reporting agencies often treat debt settlements as bankruptcies, a big black mark that will hang around for ten years. Your creditors will likely cancel all of your credit cards and you won't be able to get any new credit for about 10 years or more.
Rather than going to a debt settlement company, your sister might be well advised to try it herself first. Everything is negotiable, particularly credit card rates and payment options. The trick is to call the creditors and advise them of your unsustainable debt load BEFORE you default. They will work with you to prevent one. And a do-it-yourself work out may not even appear on your credit report as long as you have not defaulted before you work a deal with the creditors. The biggest mistake people make is not communicating with their credors before a default occurs. After a default, their rules don't allow for much negotiation.