Episode 030

Debt Consolidation Vs. Debt Settlement

In this episode, Luis talks about the key differences between debt consolidation and debt settlement, and how to understand them before you make a decision because their difference can make all the difference.

Luis came to the U.S. at age 11 from the Dominican Republic. Growing up in New York City, he noticed the lack of financial literacy in his community and was inspired by his parents to work hard and pursue an education. He founded Build a Better Financial Future LLC and is the host of the On My Way to Wealth podcast. Luis was named one of InvestmentNews 40 Under 40 in 2019 and Financial Advisor Magazine’s 10 Young Advisors to Watch. From participating as an FPA NexGen Ambassador, to speaking at the CFP Board’s Diversity Summit, Luis uses his platform to help spread financial literacy as well as encourage younger and diverse planners to join and thrive in the industry.

Notes:

In this episode, you’ll learn about the following:

  • What debt consolidation is
  • The pros and cons of debt consolidation
  • What debt settlement is
  • The pros and cons of debt settlement

Resources: