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I have eight accounts in which i want to settle. One settlement company has given me a 60 month option.Will these credit companies actually wait that long with no payments while they are wating for settlements.

Hello, standard practice is to not stretch the settlement process beyond 3 years. I would be very cautious with any company that is willing to go 5 years as you are probably opening yourself up to much greater risks and more problems.

Debt management on the other hand can and often does stretch out 5 or more years because they are not reducing your debt, just helping you keep a budget to pay it all off with lower interest rates and fees.

Be careful who you deal with…