The primary advantage of debt settlement is that it enables you to get out of debt at about half price. The second advantage is that the time frame from start to finish is fairly short, usually from 6 to 24 months. That’s shorter than the average time frame for a Chapter 13 bankruptcy plan or consumer credit counseling plan. The other significant advantage is that it enables you to become debt-free without filing bankruptcy, and that’s a big plus for some people.