Question about debt settlement vs consolidation

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wallmann
 
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Question about debt settlement vs consolidation

Postby wallmann » Wed Dec 30, 2009 8:14 pm

What would be better, credit card consolidation or debt settlement
where they cut your debt by 40%-60% and stop all interest payments?

Do you take a hit with consolidation with your credit?

Thanks


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Mogul of Pineapples
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Postby Mogul of Pineapples » Sat Jan 02, 2010 5:50 pm

Not only does debt settlement ruin your credit (they make you default on your bills for months) but they also run up your debt even more (probably by 40 to 60%) with the late fees and default APRs that you get during those months they have you not paying the bills.
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