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Debt Settlement FAQ's Is debt settlement the same as debt consolidation?
Debt Settlement FAQ's Is debt settlement the same as debt consolidation?
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| Is debt settlement the same as debt consolidation? |
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Question 7- Is debt settlement the same as debt consolidation? Answer: No. A debt consolidator makes one loan to you to pay off all of your debts. They charge you interest on this loan and in some cases you are still required to pay interest to your creditors. As a result, your principal debt balance remains the same and you remain years away from becoming debt free. With the CCDR debt settlement program, our highly skilled negotiators will negotiate on your behalf utilizing our experience and the debt collection laws to significantly reduce your debt. In most cases you will only pay a fraction of what you owe. Typically, with the CCDR Debt Settlement Program we resolve our clients debts in 9 to 24 months, often sooner. |
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