BorderlineCentral
|
|
Home | About David Oliver | Success Stories | Success Profiles | How-To Courses | Articles/Stories | News | Contact | Site Map |
Does Your Loved One Have Borderline Personality
Disorder?
Do You Have Borderline Personality Disorder?
Child With Borderline Personality Disorder? |
What is the Difference Between a Debt Consolidation Counselor and a Debt Settlement Negotiator?
Debt consolidation is done through companies that provide the opportunity to combine all of your monthly debts into one monthly payment at a reduced amount so that you can pay off your debts more easily and have some breathing room. You are still paying down your debts over time, but the interest and penalties are greatly reduced. Debt settlement, on the other hand, is the process of negotiating not just the interest and penalties but also the principal owed on all of your unsecured debts. A debt settlement negotiator will negotiator will discuss your status with your creditors and offer to pay off your debts for what they call "pennies on the dollar." This means, simply, that most creditors would rather take $3,000 cash now than hope that over the next ten years they will eventually be able to get $9,000 out of you. They know that if you're using a settlement negotiator, you probably aren't a good risk for continuing payments. You may be asking yourself, "Gee, why doesn't everybody use a Debt Settlement Negotiator, since you pay a lot less on you debts?" Because it's not as easy as it sounds. There is a hefty cost in other areas. While debt consolidation salvages some of your credit rating because you are keeping current with your payments and you have made the decision to pay off your principal in full, debt settlement trashes your credit rating. Why? Because to pay the lump sum you need to pay off the settlement, and to establish that your finances are in dire shape and you cannot possibly pay the monthly payments, you first have to stop paying your bills for months. Collection agencies will write to you and call you. You may be threatened with legal action. This is not for the faint of heart. What a Debt Consolidator Does
What a Debt Settlement Negotiator Does
Comparing the Two
The final decision is yours, and you need to make the decision based on what best fits your financial situation and personal needs. It is also important to be aware of what fits your personality and tolerance for conflict. With pros and cons to both programs, no one can make the decision but you. About The Author David Oliver is the founder of BorderlineCentral.com a one stop source of information on how to cope and deal with bipolar disorder. Back to Article List |
If you are in a crisis please call:
Special Survey For Those
3 Steps to Wealth, Success and True
Happiness
More Love, Money, Confidence and Inner Peace
Improve Your Emotional Health |
This Week's Borderline Personality Disorder NewsThe
Cutting Truth of Borderline Personality Disorder Click here for all Borderline News. |
Visit Our Other Websites:
Bipolar Central
Health and Wealth Central
Mental Health World
ScizoInfo.com - coming soon
Home | About David Oliver | Success Stories | Success Profiles | How-To Courses | Articles/Stories | News | Contact | Site Map |