Do you wanna know the difference between debt settlement and debt consolidation?

Let’s start with debt settlement.

Debt settlement is a program where you can settle your debts for less than what you owe.

How the process works is you enroll into a debt settlement program, they use their top negotiators to negotiate down your debts on your behalf so that way you can pay less.

Every debt settlement company is a little bit different, so make sure that you talk with your debt expert.

Do some comparisons to make sure it’s the right program for you.

Debt settlement could be very beneficial to people who are financial hardship due to a job loss, an unexpected medical bill, or maybe they just can’t afford to pay what they owe anymore.

In a debt settlement program, your credit may be impacted negatively.

However, under the FCRA, the Fair Credit Reporting Act, that your creditors have to report your accounts accurately, and that means every settlement we help you obtain will help your credit score go up.

Now, let’s go over debt consolidation.

Debt consolidation is when you take your old existing debt amounts that have high-interest payments and then you transfer the balances onto a bigger balance of a credit card or a loan with a lower interest rate to lower your monthly payments.

This is great if you wanna pay off your debts over a certain amount of time and you’re able to do so.

The dangers is a lotta people just raise their standard of living artificially through debt because now they have their old credit cards and loans that have zero balances and then they start using those as well, and then they end up with two payments and they’re in a worse situation than they were before.

If you would like more information on debt settlement or debt relief, visit us on our website at Alleviatefinancial.com.

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#alleviatefinancialsolutions #debtrelief #debtsettlement

Kristin Malia explains the difference between Credit Card Debt Settlement Versus Consolidation and what the differences between the two.

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Transcript:

#debtconsolidation #creditcards #debtsettlement
Debt settlement:
– A strategy that reduces your total debt amount – and as a result, pay less than you currently owe. if you’re behind on payments with no foreseeable end in sight, the debt settlement process can be an effective way to pay much less than you currently owe.
– Done through a series of negotiations undertaken between your representative and your creditors.
– While your representative initiates negotiations with your creditors, you establish an escrow account with monthly savings that eventually will be used to pay the reduced debt amounts.
– Depending on the total debt amount, a debt settlement plan can take anywhere from 18 – 48 months to complete.

Debt consolidation:
– Consolidates all of your debts into one loan, which combines all of your debt into one single payment, providing a more simplified way of paying the debt.
– May reduce the amount of debt you owe as a result of obtaining a lower interest rate.

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For people who already agree or think they can come to agreement with some help, this video describes some methods to do that. These methods are often called Alternative Dispute Resolution because they are an alternative to a contested hearing or trial.

Being Overwhelmed By Debt Absolutely Sucks, Especially When You Have Poor Credit. But You Are In Luck. There are 3 Debt Settlement Companies That Will Help You Out!!!???
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Debt Consolidation Advice: Top 3 Debt Settlement Companies For Poor Credit
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In this video, I will be giving debt consolidation advice. I lay down the top 3 debt settlement companies. These debt consolidation companies specialize in unsecured loans and poor credit. Debt can be overwhelming, especially when there does not seem to be an end to it. It is nice to have debt consolidation options to choose from when your finances are on the line. So if you are looking for a plan or debt consolidation reviews that you can trust, then you came to the right place.
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#Top3DebtSettlementCompanies #DebtConsolidation #DebtConsolidationCompanies

A debt settlement company won’t tell you these 5 critical things, and with good reason. You would not need to hire them, or would be better prepared to compare companies and alternatives if you were aware of these important facts about how they generally operate.

READ THE ARTICLE THAT INSPIRED THIS VIDEO: http://consumerrecoverynetwork.com/debt-settlement-companies-5-things-you-will-not-hear

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For a list of of best practices for negotiation companies and additional information about how to settle credit card debt yourself see: http://consumerrecoverynetwork.com/debt-settlement-company-review-best-practices/

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Michael Bovee started CRN in 2004 with a mission to provide people in need with detailed credit and debt help. The DebtBytes Channel is an extension of the CRN blog, and is dedicated to finding the debt relief option or strategy that works best for you.

Debt consolidation rolls multiple debts into a single payment, while debt settlement is a negotiated agreement in which a creditor accepts less than the full amount owed. Learn more about the pros and cons of debt consolidation and debt settlement and see which is right for you.

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Facts about debt settlements, debt settlement companies and credit counselling that you need to know. Your future depends on making an informed decision on how you pay off your debt. Debt settlements aren’t for everyone. Find out why and don’t be sucked into a program that won’t work for you – and could create even more debt. You have other options, like a debt management program that may suit your situation better. Contact the Credit Counselling Society today at 1-888-527-8999 or visit us at www.nomoredebts.org and become debt free.

http://www.bscc.ca/page/debt-settlement.aspx – Debt Settlement and Debt Mediation – call us today at 1-866-790-8984

or Visit:

Business Solutions & Credit Counselling Services
12033 92A Avenue Surrey, BC V3V 4B8
Tel: 604-951-8984 or 1-866-790-8984
akalsey@bscc.ca
http://www.bscc.ca
https://plus.google.com/109367218980858605482

A consumer proposal is a way to come up with a solution with your creditors to repay your debts. In most proposals you repay less than the full sum outstanding, plus your creditors agree to write off the rest of your debts. It’s a “win-win” for both of you.

Just what is a consumer proposal?

Unlike an informal debt settlement plan, a consumer proposal is a legally binding agreement that you and your administrator work out with your creditors.

For over a decade, the professionals at Business Solutions and Credit Counselling Services (BSCC), a registered, government-approved credit counseling Toronto (as well as Vancouver, Calgary, and Edmonton) firm, has assisted hundreds of thousands of consumers throughout Canada to avoid bankruptcy, prepare a consumer proposal, rebuild their credit, and pay off credit card debt. These are clients who were once struggling to manage excessive debt and financial obligations. We work with each client individually, designing manageable, realistic programs to absolve your financial burden and stress. Debt settlement is one way to avoid bankruptcy and provides positive alternatives for many serious financial situations.

For more information about avoiding bankruptcy and how to become debt free, please visit us at http://www.bscc.ca or call 1-866-790-8984 today!

Get started with our Free Credit Repair Program at ecredithero.com