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What are difference btw Debt Consolidation, settlement &

Date: Tue, 02/12/2008 - 08:42

Submitted by anonymous
on Tue, 02/12/2008 - 08:42

Posts: 202330 Credits: [Donate]

Total Replies: 2


Hello -


I am about $25000 in CC debt and am making the monthly payments but have little else after paying the my monthly payments

What is the difference between debt settlement, debt management and debt consolidation? What are some reputable companies that I can seek advice and direction?

Thanks


debt consolidation takes all you debts and puts them into one payment at negotiated lower interest rates. With debt settlement your creditors are asked to "settle' for a lowered amounts. Debt settlement can have long term negative effects on your credit rating and increase the possibility of a lawsuit. Consloidation has minimal shrt term effects on yor credit but will help it in the long run. I am not familiar with debt management.
When you signed up did you ask for the free consultation? Also there is a ranking chart above that rates the various consolidation companies state by state.


lrhall41

Submitted by Frogpatch on Tue, 02/12/2008 - 08:50

( Posts: 5381 | Credits: )


i am a regular visitor to in this forum and i went through some of the articles of this site. this is a wonderful article on the advantages of debt consolidation, and also takes you to an article on debt settlement. i am sure this is going to answer many of of your queries. i think a lot of other members have also benifitted from this.

http://www.debtconsolidationcare.com/decide.html.


lrhall41

Submitted by laurel188 on Tue, 02/12/2008 - 23:02

( Posts: 110 | Credits: )