Debt Settlement And Debt Consolidation – The Pros And Cons Examined

Debt Settlement And Debt Consolidation

When you are struggling with debt repayment, people may often suggest that you consider debt settlement or debt consolidation. While both are forms of debt relief, they are often used interchangeably leading to a lack of clarity. It needs to be appreciated that the two are actually quite different from each other and have their own benefits and disadvantages. Debt settlement involves negotiating with creditors to make them accept an amount that is less than the dues in full and final settlement of the debt. Debt consolidation, on the other…

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