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In general terms, credit consolidation is used to structure a person's situation, so they can continue to meet financial oligations. Placing all debts into one payment that is acceptable and achievable for the debtor. Credit settlement, usually refers to the terms/amounts a creditor will accept for a debt. The consumer should always use caution when dealing with credit consolidation agencies, or those claiming to "settle your debts." Most are running their own "money making agendas" and not overly concerned about the welfare of the clients.
What else can I help you with?
Does using a debt management company ruin your credit?
Yes, it does... Debt Consolidation hurts less than Debt Settlement.
Does debit consolidation hurt your credit?
{| |- | There is a chance that using debt consolidation services might affect your credit. Some debt management programs, like credit counseling, show up on your credit report. Some solutions, like debt settlement, don't show up on your credit report, but by definition cause late payments. Most debt consolidation services are there to help you get out of debt, not to sustain your credit report or credit score, so you should priorotize what you really want in seeking debt consolidation help. |}
What is the difference between debt settlement vs bankruptcy?
There is a subtle difference between debt settlement and bankruptcy. Debt settlement allows a person to pay off some of their debt with their creditors. Bankruptcy claims do not result in payment of the debt. Either practice creates bad credit scores for the consumer.
What is difference between rural credit and micro credit?
What is the difference between micro credt and rural credit?
What is the difference between installment credit and open ended credit?
the difference between installment credit and open ended credit is they are the same..
Does using a debt management company ruin your credit?
Yes, it does... Debt Consolidation hurts less than Debt Settlement.
Does debit consolidation hurt your credit?
{| |- | There is a chance that using debt consolidation services might affect your credit. Some debt management programs, like credit counseling, show up on your credit report. Some solutions, like debt settlement, don't show up on your credit report, but by definition cause late payments. Most debt consolidation services are there to help you get out of debt, not to sustain your credit report or credit score, so you should priorotize what you really want in seeking debt consolidation help. |}
What is the difference between debt settlement vs bankruptcy?
There is a subtle difference between debt settlement and bankruptcy. Debt settlement allows a person to pay off some of their debt with their creditors. Bankruptcy claims do not result in payment of the debt. Either practice creates bad credit scores for the consumer.
What is difference between rural credit and micro credit?
What is the difference between micro credt and rural credit?
How do I find a financial consultant to assist me with debt consolidation?
A debt consolidation company gives the customers counseling and solutions in debt settlement, credit counseling, and budget management. You can opt for non-profit agencies or paid ones.
What is the difference between installment credit and open ended credit?
the difference between installment credit and open ended credit is they are the same..
What are the advantages of credit card consolidation?
Credit card consolidation consolidates all of ones debt. Credit consolidation makes it easier to pay off ones credit card debt with a lower interest rate than most credit card companies.
What is the difference between a bank loan and a bank credit?
What is the difference between bank loan and bank credit?
Who do I contact for Credit Card Consolidation?
If you have good credit, contact your bank and see about a debt consolidation loan. If not, seek out Consumer Credit Counselling Service (CCCS).
What is better debt settlement or consolidation?
Hello There,Honestly it depends on your financial situation. In nutshell1. If you are paying all your monthly payments on time, you think the interest rate is very high, You are VERY concerned about your credit scores, you dont mind paying the complete amount.... just want the interest rates to be lower and the monthly payments slightly down, cannot afford to talk to creditors or collectors on phone..... then Debt Consolidation is the option for you.2. If you CANNOT afford your monthly payments at all, you are late on payments, or you are somehow managing to pay the minimums... If your credit scores are not the top priority in your life, if you are considering to file for a bankruptcy, then opt for Debt Settlement.Thanks!This is not legal advice...... Answer: {| |- | The most common debt relief options are: debt consolidation and debt settlement. Debt consolidation has a minimal effect on your credit. Debt settlement will have a larger effect on your credit. When a debt is settled for less than its full value, the creditor will note that on your credit report. |}
Where could one find information on consolidation loans for those with a bad credit rating?
There are a few places one can look for information on consolidation loans for those with a bad credit rating. One can find information from the websites 'Bad Credit Consolidation Loans' and 'Debt Consolidation Loans'.
What are some credit card payment consolidation hotlines that work?
Careone credit, Debt consolidation care, Consumer Credit and Debt Consolidation Services, Curadebt, Debt Options, and Net Debt all have three star ratings or higher for credit card payment consolidation. I would recommend any of their hotlines over competitors.
