When it comes to personal loan settlement, you must first understand your choices and the possible drawbacks. The two most common methods of debt settlement are lump sum payments or monthly installments.
A lump-sum settlement is a one-time payment that is less than the total amount owed. For both sides, this option may be advantageous because the lender receives some of the money they are owed and you can get out of debt faster.
Monthly payment settlements are making smaller payments over a longer period of time. The lender benefits less from this approach, but the borrower may benefit more.
Personal Loan Settlement, Debt settlement