Credit Counseling: A service that reviews your finances and then suggests an appropriate solution. Credit counselors can also help you request interest rate reductions, negotiate debt settlements, or establish a debt management program.

Debt Consolidation: Combining several debts or loans into one larger loan. Your payment term will usually be extended, but your payments and interest rate will be reduced.

Debt Management Program: A program that consolidates your debts, often with no interest. You make one payment to the program, and it distributes the money to your creditors.

Debt Negotiation: Debt Negotiation is a program for reducing consumer debt to the lowest level, typically with a low monthly payment, while avoiding bankruptcy.

Debt Settlement: Another term for debt negotiation.

 

For more information click here