Settling your debts can help you pay less and get out of debt faster. If you are behind on payments and you are in collections, negotiating a debt settlement may even improve your credit in the long run. It can also help you avoid being sued if you are already in collections. Over time, a debt settlement can significantly improve your financial situation and make it easier for you to accomplish other financial goals, such as obtaining a mortgage loan. Debt settlement is one of many ways you can work towards achieving financial freedom in Los Angeles.