Debt consolidation and debt settlement are two completely different strategies used by individuals to reduce current debt payments, and they can be used separately or together.
Debt Settlement
Best loans for borrowers with bad credit
If you’ve had a few late payments, non-payments, or other negative items on your credit report, then you need to find a lender who will approve you, transfer cash quickly, and offer an interest rate you can afford. You need to know exactly what you’re paying, whether it’s origination fees, early termination fees, or monthly payments. Unfortunately, companies who offer loans to people with bad credit are the most likely to hide these fees.