What are alternatives to debt consolidation?
An example of an AI chatbot conversation about alternatives to debt consolidation.
What are some alternatives to debt consolidation?
There are several alternatives to debt consolidation, such as debt settlement, credit counseling, and personal loans.
Can you explain how debt settlement works?
Sure! Debt settlement involves negotiating with creditors to reduce the total amount owed, often for a lump sum payment.
What about credit counseling? How does that help?
Credit counseling provides guidance on managing debt and budgeting, and may help you create a repayment plan.
Are there any risks involved with these alternatives?
Yes, each option has risks. For example, debt settlement can negatively impact your credit score, and credit counseling may not always lead to a solution.
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