(37) Understand the Difference Between Debt Settlement & Debt Consolidation Before Trying Either

If you are considering debt settlement or debt consolidation as two potential ways to relieve the debt you are carrying, make sure that you understand the difference between the two and the pros and cons of each. In its most simple form, debt settlement reduces the amount of debt you have, while debt consolidation reduces the number of creditors you have. Compare and contrast both strategies before you undertake one and do not try either without consulting a qualified financial advisor.

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