The possibility to negotiate with your creditors to reduce the interest rates or eliminate late payment fees enables you to consolidat multiple bills as medical bills , credit cards,and so on ,in a single montly payment ,is known as a debt consolidation .
Another way is to have a debt relief company to get your creditors to reduce the debt fo about 60 % wich will legaly take you out of debt .
If you are possible to pay montly payment at reduced rates use debt consolidation ,if not use debt settlement but take in consideration that your credit report will be a negative one.
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08-09-2010, 07:23 AM
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