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If I am in debt what do I do?

Updated: 9/17/2023
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13y ago

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If your debt is less than $10,000 you may go for consolidation. In case it's more than the said amount you may try out settlement.

Settlement takes a hit on your score initially but gets you out of debt much faster. If you go for settlement, you may negotiate with your creditors for a lower amount, or you may enroll with any professional settlement service.

In comparison, consolidation clubs your loans into one single monthly payment, waives the associated charges or interest. Consolidation may take a longer period of time to get you debt free depending on your loan amount.

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