There are many reasons why people fall into debt. These can be from necessary expenses such as hospital visits, fixing a car when it breaks down unexpectedly, or home repairs that need to be done. No matter the reason, its easy to get behind if you dont have the money. Debt consolidation and debt settlement are some of the more popular ways for people with debt to dig themselves out. Before deciding on what to do next, you need to find out the difference between the two options.
1. Credit Card Interest Rates
The main difference between debt consolidation and debt settlement is how they affect your credit cards. Debt consolidation means that you take out a new loan with which you pay off your existing credit card balances, usually at e…
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