Debt Consolidation or Debt Settlement: Making the Right Choice

Making the right choice when selecting debt resolutions is crucial to your success in eliminating debt. You must educate yourself on all of the available options, and be excruciatingly honest with yourself about your financial situation. This is not the time to get estimates or fub the numbers—these techniques are indicative of poor money management. In order to choose the right debt solution, you need to know exactly how much debt you have.

Debt consolidation and debt settlement are too of the most common solutions to debt. Although they are often confused and thought to refer to the same thing, debt consolidation and debt settlement are two completely different processes by which you can eliminate your debt. Debt consolidation combines all of your unsecured debts into one payment with a lower interest rate. Debt settlement companies negotiate with your creditors and enable you to pay off your debts for 50% or less than you owe in 12 to 36 months.

If you find that you have trouble balancing your budget and making multiple payments at different times of the month, perhaps debt consolidation debt relief is the right choice for you. Opting for debt consolidation involves taking out a debt consolidation loan which will payoff all of your other loans. You will then only have to pay back the debt consolidation loan, which usually has a lower interest rate than what you were paying on all of your other bills.

One of the problems with debt consolidation is that it could take ten to twenty years for you to become debt free. If you would like to resolve your debts sooner than that, debt settlement is the right choice for you. During a debt settlement program, you can payoff your creditors for much less than you actually owe them. This is accomplished by negotiating with your creditors and making a deal for a settlement. If you would like more information on debt settlement, please fill out our online no obligation debt settlement form.

Debt Settlement Eliminates Debt

It is important to realize that debt consolidation doesn’t really eliminate debt. Debt consolidation is a great tool for managing your debt because it condenses multiple payments into a single payment. But if you are struggling to make monthly minimums, it is likely that debt consolidation won’t offer you the help that you really need. In fact, if you have been remiss in paying your creditors, it is likely that you have done some damage to your credit score and will not even qualify for a debt consolidation loan. Many debtors find debt settlement to be a more feasible and more effective option for them.

After enrolling in our credit card debt settlement program, your personal debt settlement coach will contact you and begin reviewing your finances. Your coach will design a budget and a settlement plan that suits your needs and your debt. Then our debt settlement representative will begin contacting your creditors and working on negotiations. Debt settlement is successful because creditors are willing to cut their losses and accept a lump sum payment, instead of taking legal action. Your debt settlement coach will present the settlement offers to you and this process will continue until all of your debts have been settled.

If you would like to have debt relief completely in a short period of time, then debt settlement is the best choice for you. Debt consolidation is hard to qualify for and can take years to get you out of debt. Make the right choice and choose debt settlement. Please take a moment to fill out our online no obligation debt settlement form so we can show you how to become debt free in 12 to 36 months.

Offering Professional Debt Settlement Help to 50 US States

List of States where we offer debt settlement