What is best, Debt consolidation or Debt settlemen

it depends upon situation. can you give us more details about your debt position

You may come across a situation wherein it becomes tough for you to payoff your debts. you have to choose between debt consolidation and debt settlement after you hire a debt relief company.

A debt relief company can negotiate with your creditors and ask them to reduce your interest charges as well as your late fees (if any), and allow you to consolidate your bills into a single payment every month. If you can manage paying your bills with these reduced rates, then you may opt for a debt consolidation program.

Alternatively, it may not be easy for you to make your payments even when the rates get reduced. Under such circumstances, the debt relief company can even negotiate and get your actual outstanding amount lowered so that it becomes easier for you to pay back your debt. This process is known as debt settlement.

So, in the end it's up to you to decide which of these situations you fit in to.