Difference Between Debt Consolidation and Debt Settlement

Debt Settlement (DS) --> It is a process, which involves negotiating with your creditors to settle your debt for amounts significantly less than you currently owe. People not able to bear the burden of huge debts anymore or on the verge of bankruptcy are advised for debt settlement.

Debt Consolidation (DC) --> It is a process in which all the bills and debt whether secured or unsecured are combined together into a single payment, usually resulting in lower monthly payments. Often debt consolidation involves many unsecured loans (such as credit card bills, medical bills, etc.) into a single payment but with collateral backing it up. This is then referred to a secured loan. There are two types of programs under debt consolidation, i.e. Debt Consolidation Service and Debt Consolidation Loan.
a) Under Debt Consolidation service, debt solution companies negotiate with the creditors to lower down the interest rates and monthly payments.
b) Under Debt Consolidation loan, a lower interest loan is provided to the debtor in lieu of multiple high interest loans and bills, in order to pay off his debt quickly.

Lets come to the differences between Debt Consolidation (DC) and Debt Settlement (DS), which are given below:

1) In DC debt isn't reduced, it remains the same, only interest rate is reduced, but in DS debt is reduced to substantial level and also the interest rate is reduced.

2) In DC interest rate can be reduced to 50-75% depending on the debt, whereas in DS the interest rate can be reduced down to 40-60%.




3) In DC though the rate of interest is reduced, one has to pay the whole amount, but in DS once you repay 40-60% of your outstanding dues, you're legally out of debt.

4) In DC the credit score of the debtor isn't affected and in some cases there is a positive impact on it, if the bills are paid on time, on the other hand DS can severely damage one's credit score.

5) In DC all the secured and unsecured loans are combined together into a single secured loan, which are associated with collateral. So in case debtor fails to pay the loan he has to loose his property. But in DS creditors are at constant risk in loosing their money.

6) Usually, you can be out of short term credit card debt consolidation in five years or less but in DS the payment period is more.

7) If good credit manners are maintained a debtor with DC can apply for fresh loan and can get it, but a person with DS will affect their ability to get credit at favorable interest rates for couple of years. In fact, the Fair Credit Reporting Act states that negative information must remain on a credit report for a minimum of seven years.

Now its upto debtors and also depends on their financial position which plan to go for.

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Cookies

Cookie --> A cookie is a very small text document, which often includes an anonymous unique identifier. When you visit a Web site, that site's computer asks your computer for permission to store this file in a part of your hard drive specifically designated for cookies. Each Web site can send its own cookie to your browser if your browser's preferences allow it, but (to protect your privacy) your browser only permits a Web site to access the cookies it has already sent to you, not the cookies sent to you by other sites. Browsers are usually set to accept cookies. However, if you would prefer not to receive cookies, you may alter the configuration of your browser to refuse cookies. If you choose to have your browser refuse cookies, it is possible that some areas of the site will not function as effectively when viewed by the users. A cookie cannot retrieve any other data from your hard drive or pass on computer viruses.


Purpose --> As you visit and browse a Web site, the site uses cookies to differentiate you from other users. In some cases, cookies are used to prevent you from having to log in more than is necessary for security. Cookies, in conjunction with the Web server's log files, allow web sites to calculate the aggregate number of people visiting them and which parts of the site are most popular. This helps them to gather feedback to constantly improve their Web site and better serve their clients. Cookies do not allow them to gather any personal information about you and they do not intentionally store any personal information that your browser provided to them in their cookies.

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Beneficiaries Of Affiliate Marketing

The concept of revenue sharing, used by Affiliate Marketing isn't new to people. This concept predates Affiliate Marketing and Internet. Even today revenue sharing concept is followed by people to sell their properties or other valuables. The Broker or the middleman gets a share from the property, if he gets him a promising customer.

Inspite of couple of glitches like usage of spams, false advertising, forced clicks and other methods to drive traffic to the sponsors, Affiliate Marketing has come a long way since its commencement. It has also been tagged as sporadic, since it can be relied upon as stable source of income.

Inspite of such issues, the point is that the merchants just love Affiliates and Affiliate Marketing. And it's going to stay for long because of its rewarding nature for, everyone associated with it.

Let's see the Beneficiaries associated with Affiliate Marketing and how they are benefited:

1) The Business/ Merchants --> The obvious benefits of Affiliate Marketing are that merchants a wider environment generating more products and services signifying more sales. No additional time is spent in marketing with merchants and they can obtain customers this way too.

2) The Affiliates --> This group has been highly rewarded from the concept called Affiliate Marketing. It has enabled them to work for themselves and yet earn more than a regular job. Some affiliates have even created multi million dollar companies - these are the guys who run comparison sites, the cash back and coupon sites, etc.

3) The Customers --> Most of the customers don't know about internet Affiliate marketing and if they know also, they are the most benefited group. It's because of Affiliate Marketing that the customers enjoy comparison shopping, discount coupon and cash backs. It's affiliates, who bring these wonderful goodies to the prospective customers.

4) The Web --> This group of giants like Google, Yahoo, MSN, AOL and now the hugely popular Web 2.0, enjoy bulk of Web share among themselves. If done correctly, knowing customer needs and desires, can create a knowing of market trends which can help future sales in the sense that the website knows how to market products or services more effectively next time. Banners generate interest and doesn't need any kind of big capital to market and advertise certain products.
It can be irritating and complicated start but with little perseverance and luck, one can become successful Affiliate Marketer.

Do share your comments on my blog post? What are your views on Affiliate Marketing?

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Manage Your Own Searches with SearchWiki

With its new and unique technology called SearchWiki, Google allows its users to place the search results as per their requirement. The users can tweak with Google algorithm and rank the Search results as per their wish or requirement, only if they have logged in their Google account. Though making changes through SearchWiki won’t affect the website ranking followed by Google algorithm. The changes made through SearchWiki are purely based on individual preferences and can get the same search results whenever they log in their individual accounts.

SearchWiki allows the users to rank the Search results, delete them as well as add specific comments for relevant sites, with the help of buttons given below the site. For ranking the arrow button, to delete “X” button and the bubble is used for inserting comments for future references. The rankings of sites are done by users as per their requirement (content of the site) or relevancy of the site. The users can also delete any Search result finding it non-relevant. So next time the user won’t find the site when he/she logs in. The comments inserted for specific site can be shared with other logged in users.

Though SearchWiki tries to find out the relevant searches through user preferences, it overlooks couple of aspects like the frequency of same searches made on rival Search Engines and not on Google.

Do share your comments on my blog post. What are your views on Google SearchWiki?

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