DEBTOOLS

Comparing Debt Consolidation To Debt Settlement

Have you ever known or heard of someone who
earned a fortune, but wound up penniless?

How you handle debt is the single most important
factor influencing your financial well-being.

Consolidation
•	Provides an immediate means for dealing with delinquent debt.

•	Represents a temporary solution for dealing with delinquent debt.
•	Does not reduce debt. Instead it increases the cost of getting debt free.
•	Usually requires encumbering assets as loan collateral.
•	Requires some minimal level of acceptable credit.
•	Usually requires a mortgage broker, banker or other lending officer.

Debt Settlement
•	Is a process of negotiation for dealing with delinquent debt, which takes time to complete.

•	Is a permanent solution for dealing with delinquent debt.
•	Liquidates debt completely for a fraction of the balances due.
•	Requires no assets at all.
•	Has no credit requirement.
•	You can do it yourself.

The Danger Signs
Of Excess Debt

	You make only minimum payments on your credit cards each month.
	You are at or near the limit of your credit cards.
	You applied for more credit cards in the past year.
	You have begun charging small items or essentials like food and gasoline.
	You have recently paid a monthly bill using a credit card cash advance.
	You are often late paying some or all of your bills.
	You are unsure how much you owe creditors.
	You are receiving calls or overdue notices from creditors.
	You have no budget.



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