The Competition
Consolidation Loans: The Basics
Debt consolidation involves taking out a new loan to pay off multiple existing debts, such as credit card balances or personal loans. The goal is to simplify your finances by consolidating your debt into one monthly payment, often with a lower interest rate. Consolidation loans can be secured (requiring ...
Debt Settlement: The Basics
Debt settlement involves negotiating with creditors to reduce the overall amount of debt owed, typically by offering a lump-sum payment that is less than the full balance. Debt settlement is often facilitated through a debt settlement company, which negotiates with creditors on your behalf.
Pros of Debt Settlement:...