There are many persons who are of the opinion that the best way to clear an unsecured loan is not repay it at all. Since it is unsecured, the lender will have no option but to waive it off when it is clear that no repayment shall come forth.Well, you should not share the same opinion because lenders will not hesitate to drag you to the court and procure a freeze on your bank account until the debt is repaid in full. Hence, if you are facing financial problems, you should try to tackle the issue of debt problems head on.For starters, do not try running away from your credit card issuers and debt collection agents. It may not be pleasurable but you will have to maintain regular contact. When you finally go in for consolidation or settlement deal, you should always be in a position to say that you maintain to contact no matter how hopeless the situation seems.Considering the large number of individuals who run away from debt collection agents, the fact that you were there to answer their queries at every instance will work in your favor.The best way to clear your unsecured loans is debt- settlement if you do not have sufficient cash in hand, if you are already back on payments and if you do not earn a lot of money.On the other hand, if your debts are not very large, if you have sufficient income and if you are in a position to actually save money by reducing your expenses, you should go in for consolidation loan.The biggest advantage of a debt settlement deal is the 50% discount and the installment facility to repay the balance. The disadvantage is that you will have to suffer a negative impact on your credit score.The biggest advantage of a consolidation deal is the reduction in the interest rate that will help you repay more even as you pay the same amount to your creditors. The disadvantage is that you will have to repay the debt in full and will not get any significant discount.If you are finding it difficult to manage your finances and if you want professional help, you should go in for debt- settlement professional. If you need settlement, you can continue with the same service provider. If you do not need a settlement, you can easily take the advice of the professional and get in touch with a debt consolidation loan provider.