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Managing multiple debts can become stressful, especially when different creditors have different payment dates, interest rates, and balances. If you are struggling with credit card debt or other unsecured debt, you may come across two terms: debt consolidation and debt settlement. Although both are often described as debt-relief strategies, they work in very different ways.

Managing multiple debts can become difficult, especially when you have different balances, interest rates, and payment due dates. Two terms you may come across when researching debt relief are debt consolidation and debt settlement. Although both approaches are related to managing debt, they work in very different ways. Debt consolidation generally combines multiple debts into