Is Debt Settlement Ethical?

What are your opinions on debt settlement? Don't you think this program can be helpful by making small payments towards the accounts instead of paying nothing? If you agree and you find yourself in the same situation, this program is the right choice for you. However, try to negotiate with the creditors and see if you can get them work on your terms.

I agree with FlyingCats' statement above - if it comes down to either paying some or paying nothing, then I'd go with paying some, anyday.

I think most creditors would agree.

Because any creditor will first want to get their principal amount back. I also agree that they will be charging interests and fees for the time a consumer has borrowed the fund. But if one has no means to pay back the "extra" amount, I don't think any creditor will deny if they are getting back the original amount, or even if the account has to be settled.