eHow published an article recently that compared debt settlement to debt consolidation.  In years past many finance advisors would recommend debt consolidation to homeowners because they could take out a second mortgage to consolidate debt and debt settlement to non-homeowners because they were not eligible for secure home equity loans because they had no real estate to be used as collateral.

Here are the 3 steps that eHow reccomends when comparing a consolidation loan to a debt settlement program.
1. Compare the short-term advantages of each debt solution option.
2. Compare the long-term benefits of each debt relief solution option.
3. Determine which debt solution is best for you. Which program do you qualify for? Which one offers the best overall benefits? Which one can you afford?  Do you want to settle credit card debt?

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