Max John
Anonymous
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Credits: 48,894
Sub: #1 Debt consolidation vs debt settlement
Replied on 09-26-2009, 08:21 AM
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Debt Settlement is better or deb consolidation is better

Sub: #2
Replied on 09-28-2009, 01:12 AM
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Depends on your goal. If you are current on your payments but have high interest rates, debt consolidation aka debt management plans aka dmp's or just plain old credit counseling is where you pay one payment that is distributed monthly to your creditors at reduced interest rates ranging from 6 to 9% on average.

If you have more than $7500 in credit card debt and/or personal loans or collections and you are 2 or more payments behind, then debt settlement is good because you settle for half of your debt on average.

__________________
http://www.ftc.gov/os/statutes/fcrajump.shtm
Know Your Rights-Read the FCRA here:
http://www.ftc.gov/bcp/edu/pubs/cons...edit/cre27.pdf

Can You Trust Me? Google "Debt Management Guys."




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  • By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
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