Debt Consolidation vs. Settlement Calculator
Total your outstanding debt balances and answer 7 simple questions to determine the most effective debt relief strategy.
By Loretta Kilday • Reviewed by the DebtCC Editorial Team
Debt Relief Specialist & Spokesperson
KEY TAKEAWAYS
- Debt settlement is best for reducing outstanding balances and achieving faster freedom.
- Debt consolidation provides a single monthly payment while protecting credit scores.
- If you can pay the balance in full today, paying in full remains the least expensive choice.
- A mixed score recommendation suggests reviewing options with a certified counselor.
Entering outstanding liabilities is the first step in deciding how to proceed. Fill in your credit cards, loans, and medical bills below, then answer seven simple questions to receive an immediate personalized recommendation comparing consolidation and settlement.
1. Calculate Your Balances
Provide approximate outstanding totals:
2. Answer Preferences Questions
Choose yes or no for each question to formulate your personalized suggestion:
Can you pay the outstanding balance in full?
Do you want to get rid of your debts fast?
Do you want to avoid negative impact on your credit score?
Do you want to reduce the outstanding balance?
Do you want to get rid of your debt just by making a single payment?
Do you want to keep your other property safe from seizure?
Do you want to get rid of creditor and/or collection calls fast?
Review with a counselor
Your answers are mixed, so a free counseling session can help you compare the options accurately.
Program Choices Overview
Debt Settlement
Often best when you need to reduce total balances and can negotiate directly or through a counselor.
Debt Consolidation
Best when you want a single monthly payment and can qualify for a repayment or consolidation program.
Debt Counseling
A good fallback if your answers are mixed or you need help mapping out the next strategic move.
Loretta Kilday
Debt Relief Specialist & Spokesperson, DebtCC
Loretta Kilday, Esq., is an accomplished litigator and transactional attorney with more than 30 years of experience across debt collection, bankruptcy, and related matters. DebtConsolidationCare features her as its spokesperson and public voice. She has also trained and mentored junior attorneys and associates. She earned her J.D. from DePaul University College of Law and a B.S. in Finance from DePaul University.
- Loretta Kilday
ON THIS PAGE
WHY IT MATTERS
- Organizes multiple card, medical, and payday balances in one index panel.
- Compares combined single-payment programs with customized balance settlements.
- Identifies whether settlement or consolidation fits realistic goals.
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