Both options can help if you have a large, five-figure amount of debt. Here's how to tell which is better for you.

See how we rate products and services to help you make smart decisions with your money.How long it takes to pay off your debt ...

Also known as debt settlement, debt relief involves negotiating with creditors to settle for a payment that is less than what ...

Money given as a gift ... taxable income and needs to be reported to the IRS. That doesn't mean debt settlement is a bad idea, just that the tax payment should be factored into your calculations ...

Read U.S. News' review of Freedom Debt Relief and compare interest rates, fees and terms to find the best loan for you.

Debt consolidation and debt settlement are two popular methods to ... There’s simply not enough money to go around, and it becomes this sort of anxiety-build experience.” ...

When you work with a debt settlement (or debt relief) company, you build up money in a savings account that the company then uses to try to reach a deal (or settlement) with your creditors.

Many Gen Xers struggle to balance their current financial obligations with plans for the future, including retirement. Here's ...

Debt settlement can offer a lifeline for consumers who are struggling with overwhelming debt. When you pursue debt settlement — also called debt relief, debt negotiation or debt resolution ...

If you believe debt settlement is the best option for your situation, settling debts yourself can save you money. That’s because debt relief or debt settlement companies may charge a steep fee ...

While debt settlement does affect your credit, for those who are already behind on their payments and struggling to manage their finances, it could provide invaluable relief. If successful, you could ...

Use your settlement money to pay off credit card and other debts ... Often, that includes paying off debt, which can improve your credit rating. Do your best to spend it wisely.