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When a settlement is reached, the funds you have been setting aside go toward paying your creditors and negotiation fees.These programs take around two to four years to complete and negatively influence your credit.New Era Debt Solutions is another standout company.It has flexible programs that don’t have a minimum debt requirements.Freedom Debt Relief is also one of the industry leaders, and it offers some of the highest quality customer service.In addition, the company has an easy-to-use dashboard that tracks your consolidation program and the progress of its negotiations with your creditors.Many of these options work hand in hand with or as part of a larger debt reduction program, but in general, these are your choices: Debt Settlement: Settlement is the process of negotiating with your creditors in hopes of reducing the total amount of debt you owe them.

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When you take out a consolidation loan, you are required to put forth collateral.

Debt Management Program: These programs often work hand in hand with credit counseling.

During this program, you receive financial counseling and meet with a financial advisor.

After 100 hours of researching and calling debt consolidation companies, our top choice is National Debt Relief, which is one of the most transparent companies we spoke to.

It offers top-notch customer service and its costs and fees are well in line with industry standards.

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