Consolidating credit card debt online online

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Many of these options work hand in hand with or as part of a larger debt reduction program, but in general, these are your choices: Debt Settlement: Settlement is the process of negotiating with your creditors in hopes of reducing the total amount of debt you owe them.

It can be confusing because debt consolidation is also used to refer to debt settlement programs as well.Additionally, the debt management company contacts your creditors and attempts to negotiate lower interest rates on your behalf.Lower interest rates allow you to more quickly pay off your debts.When a settlement is reached, the funds you have been setting aside go toward paying your creditors and negotiation fees.These programs take around two to four years to complete and negatively influence your credit.

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