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In this video tutorial, Sebastian Bohr, also known as "the approved guy," discusses the difference between debt restructure and debt consolidation. Many individuals who are overleveraged reach out to him for help on managing their debts. Debt consolidation involves hiring a third party to contact creditors, such as credit card companies or loan providers, to negotiate more manageable payment terms. On the other hand, debt restructure involves working directly with creditors to reorganize debts. It's crucial to understand these distinctions when addressing financial challenges.
