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Debt Settlement Vs. Debt Consolidation
Lower Debt
The goal of both debt settlement and debt consolidation is to lower your debt. Debt settlement companies negotiate with your creditors to sometimes reduce the amount of your loans. You will be charged a fee, and the debt reduction will remain on your credit score for seven years.
Debt settlement can reduce your debt 10% to 50%. To get the most out of the program, pay off the rest of your debt as soon as possible. Also, close accounts that you donĀ't plan on using to raise your credit score.
Debt consolidation pays off your high interest debts with a low interest loan. Home equity loans provide the lowest rates, but personal loans can also be...
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