Home > Settlement | Consolidation | Personal Loans

Settlement | Consolidation | Personal Loans



A debt settlement deal is typically done by a third-party firm that negotiates with a creditor or a lending agency for the borrower to pay the creditor a lump sum amount that is usually less than what the borrower originally owes.

  • Pros

  • Helps you quickly fix your financial problems

  • Cons

  • Some lenders might not be open to negotiating your debt

  • Might be more costly in comparison to paying the actual amount that you owe


Debt consolidation is the process of taking out a bigger loan to pay off your other smaller loans. This is usually done with a more affordable payment option or with reasonable interest rates and to pay off a number of other creditors.

  • Pros

  • Does not entail collateral

  • More achievable payment opportunities

  • Prompt and upfront method

  • Cons

  • Could affect your credit ranking

  • Will result to longer and more extended payment terms


Personal Loans

Taking out a personal loan is to borrow funds from banks, lending agencies, and other firms or individuals offering to lend money with interest.

  • Pros

  • A quicker way of settling your debts

  • Feasible for a short-term solution to paying off debt

  • Cons

  • Could take long to be approved

  • May have higher interest rates