January 6, 2025 ~ Lucy Ann Lance talks with Nicole Bernacik for this week's Money Monday with the University of Michigan Credit Union. Lucy Ann and Nicole explore the differences between debt settlement and debt management plans, especially in the context of New Year’s resolutions to pay off high-interest debt. Nicole explains that debt settlement involves negotiating with creditors to pay less than what is owed, often resulting in a negative impact on credit scores and the risk of scams from for-profit companies.