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What Is Debt Settlement?

Debt Settlement 


Debt Solutions and Advice

Debt Settlement is method used by debt relief agencies in which your debts are settled with your creditors for a lesser amount and is paid in one lump sum.  Many go with this option because it puts a halt to all the collection calls

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Debt Consolidation is method of combining all of your unsecured debts. Whether it be medical bills, credit card bills, personal loans or other loans, they are combined into one monthly bill untill all of debts are paid off, which makes it more convenient and easier to eliminate your debt. This is a very effective way to attack debt but just know its a process that will seem slow and drawn out. Nevertheless its effective and gets you out of debt faster than you think.

Is Debt Consolidation Right For You?


What Is Debt Consolidation?

What Are The Benefits?


Some of the benefits of debt consolidation or credit consolidation is that you can lower your interest rates, lower your monthly payments, protect your credit score and help you get out debt faster.

How To Consolidate Your Debt?

How much debt you have and other circumstances may determine the best option for consolidating debt.

If your credit card debt is over $5,000, a debt management plan or debt consolidation loan are good options. Both plans are based on reducing interest rate paid on the debt, thus making it easier to afford monthly payments. The difference is that there is no loan involved in a debt management plan.


If your credit card debt has ballooned to an unmanageable figure - a number so high that you can barely afford the minimum monthly payments - debt management and a debt consolidation loan are still in the mix, but it would be wise to add debt settlement. If you own a home, a home equity loan also is an option.