Whats the difference between debt settlement and debt consolidation?
The Debt Settlement process involves negotiating with your creditors to settle your debt for amounts less than you currently owe. This can save you sizable amounts of money on debt principal and interest. It also provides you with the opportunity to pay-off your debts faster. Debt Consolidation can be accomplished two ways. The first method is through a debt consolidation loan, and second through a debt consolidation service. A debt consolidation loan provides funds to consolidate all of your debts into one single monthly payment and is traditionally secured in the form of home equity. A debt consolidation loan reduces the number of payments you have going out monthly and can simplify your debt problem. However, once approved, a debt consolidation loan does not mean you are without debt; the debts have just been transferred to a new creditor. Hopefully, this debt consolidation loan will provide you with a lowered APR and allow you to pay off the new loan quicker. This may sound like a
The Debt Settlement process involves negotiating with your creditors to settle your debt for amounts less than you currently owe. This can save you sizable amounts of money on debt principal and interest. It also provides you with the opportunity to pay-off your debts faster. Debt Consolidation can be accomplished two ways. The first method is through a debt consolidation loan, and second through a debt consolidation service. A debt consolidation loan provides funds to consolidate all of your debts into one single monthly payment and is traditionally secured in the form of home equity. A debt consolidation loan reduces the number of payments you have going out monthly and can simplify your debt problem. However, once approved, a debt consolidation loan does not mean you are without debt; the debts have just been transferred to a new creditor. Hopefully, this debt consolidation loan will provide you with a lowered APR and allow you to pay off the new loan quicker. This may sound like a
The Debt Settlement process involves negotiating with your creditors to settle your debt for amounts significantly less than you currently owe; typically, we can settle your debts by up to 60% of the balance owed at the time of settlement. This will save you sizable amounts of money on debt principal and interest. It also provides you with the opportunity to pay-off your debts faster. Debt Consolidation can be accomplished two ways. The first method is through a debt consolidation loan, and second through a debt consolidation service. A debt consolidation loan provides funds to consolidate all of your debts into one single monthly payment and is traditionally secured in the form of home equity. A debt consolidation loan reduces the number of payments you have going out monthly and can simplify your debt problem. However, a debt consolidation loan does not mean you are debt-free; the debts have just been transferred to a new creditor. Hopefully, this debt consolidation loan will provide
