Do You Have More Than $10,000
In Credit Card Debt?

By: Top 6 Digital Staff                            Updated: 3 Hours AgoBest Debt Consolidation Ratings

LOWER YOUR MONTHLY PAYMENT BEFORE IT’S TOO LATE

Debt Relief is more important now than ever before. Across the country, millions of people are finding it more and more difficult to meet their financial obligations. The government is doing what they can but it’s not going to be enough.

If you are serious about getting out of debt or lowering your monthly payment, now is the time to act!

Learn the difference between applying for a debt consolidation loan and working with a debt settlement company.

READ REVIEWS FOR THE TOP 6 DEBT RELIEF COMPANIES

DEBT CONSOLIDATION LOANS

A debt consolidation loan is an effort to combine debts from several creditors, then take out a single loan to pay them all, hopefully at a reduced interest rate and lower monthly payment. This is typically done by consumers trying to keep up with bills for multiple credit cards and other unsecured debts.

UPSIDE
  • Lowers interest rate on outstanding debt
  • Make one low monthly payment
  • May improve your credit score
downside
  • Higher credit score required for approval
  • Paying off total debt may take longer
DEBT SETTLEMENT COMPANIES

Debt settlement companies negotiate with creditors to reduce what you owe, mostly on unsecured debt such as credit cards. Settlement offers work only if it seems you won’t pay at all, so you stop making payments on your debts. Instead, you open a savings account and put a monthly payment there.

UPSIDE
  • Pay less than you owe
  • Pay creditors over 24 to 60 months
  • Avoid filing bankruptcy
downside
  • Negative impact on credit score
  • Companies charge success fees

READ REVIEWS FOR THE TOP 6 DEBT RELIEF COMPANIES