Home > Settlement | Consolidation | Personal Loans

Settlement | Consolidation | Personal Loans

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Settlement negotiations are typically done by third-party agencies who reach out to creditors on behalf of a borrower in order to agree on a payment option that is normally lower than the original amount being owed to resolve an entire debt.

  • Pros

  • A quick and practical key to pay off debt

  • Your appointed representative will deal with creditors on your behalf

  • Cons

  • Your appointed representative will deal with creditors on your behalf

  • Might result in longer payment options with higher interest rates


Debt Consolidation is the process of taking a huge loan to pay off other smaller loans. This method usually has a much smaller monthly payment plan with lesser interest rates.

  • Pros

  • Affords a more inexpensive monthly fee

  • No collateral needed

  • A practical solution for debt repayment

  • Cons

  • Lower monthly payments but longer terms

  • Could affect your credit ranking

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Personal Loans (4)

Personal Loans

A personal loan is a process of borrowing money from banks, credit unions, online lenders, friends, or relatives with an agreed-upon payment term. Personal Loans may or may not require collateral depending on the organization that the loan was applied in.

  • Pros

  • A practical solution for you to settle your debts with creditors

  • Cons

  • Some agencies take a long time to approve and process loans

  • May have higher interest rates