Facei Blog

Who Should Consolidate Debt?

November 6th, 2008

For whom is debt consolidation an ideal solution? Debt settlement, which will affect your credit score, is appropriate for people who are in over their heads with unsecured debt. Their credit is already being negatively affected in a worse way by late payments and missing payments altogether, so debt settlement will only help them. However, if you are still able to make your credit card payments, but simply struggle to make them and never get ahead, consolidation instead of settlement may be the debt solution for you. Just keep in mind that consolidating debt will require getting a loan, which will in turn require collateral, such as your home or other valuable investment.

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