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Debt Settlement Or Debt Consolidation, Which One Should You Consider

Debt settlement is a hard-line approach to reducing your debt, usually for people with severe financial problems who are considering bankruptcy. Debt settlement agencies will negotiate with the creditor on your behalf for a lower amount of your debt, allowing you to pay it off in one lump sum or monthly installments. After the debt is settled, the creditor will then send you a letter stating that the debt requirement was satisfied, and in turn will contact the major credit bureaus reporting that the debt has been settled for lower than the original amount.

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New Study Indicates Financial Confidence Is Rising

In a study released by GfK NOP earlier today, the Consumer Confidence Index score increased by two points over the course of August to now stand at -4. Research from the financial services firm revealed that the climate among members of the public to make major purchases returned to a positive score over the duration of this month. Increasing by six points, the score now stands at +4 and was reported to have driven the general rise in Britons’ consumer confidence - however, this is still three points down from the same time last year.

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