If you’re not sure about debt settlement, there are other ways you can handle your debt that might have less of an impact on your credit score. As you decide what to do about your debt, make sure you’re choosing an affordable solution. For example, don’t pay off your debt with a loan secured by your home, because if you get behind on payments you could lose your home.
Here are some other options:
- Meet with a credit counselor to create a personalized debt reduction plan you can afford.
- Take out a personal loan and pay off your debts that way.
- Consolidate your debts onto one credit card.
- Tap into your home equity via a HELOC to pay off your debt.
Debt Settlement vs. Debt Consolidation
Debt settlement and debt…
