The unsecured loans that the consumers have is not good. Unsecured loans have a tendency to multiply very fast because of the high interest rates. It is therefore, suggested to the consumers to move out of their dues as fast as possible. The top two methods that can be applied to eliminate unsecured debts are the methods of bankruptcy filing and debt settlement. Which is better? Let us find out the same.Comparison between settlement and bankruptcy: Bankruptcy eliminates 100% of the dues but relief negotiation will eliminate a maximum of 70% and a minimum of 50%. 100% relief is not possible in this method.Settlement relief requires 1-3 years to complete and is the fastest whereas the traditional method of bankruptcy will take 7 or more years to complete. This is annoying.The alternative bankruptcy ensures that the credit score of the consumers remain th buy lipobind e same after the process of negotiation is complete. This is not possible in case of bankruptcy. If a consumer files for bankruptcy, the credit score will be lost completely and the status will remain for 7-10 years which will not allow the consumers to get fresh loans during that period.There are a number of legal hassles in the process of bankruptcy which the consumers need to face and visit to courts is mandatory. This is not required in case of settlement. In the method of negotiation, there are either no or very less legal hassles which are taken care of by the negotiator dealing with the case.Bankruptcy is a costly method because the bankruptcy attorneys charge $200-400 each hour. On the contrary, settlement is cheap because the consumer simply needs to pay 6-15% of the total outstanding to the relief company along with repayments to the creditor.