Debt Solutions Center
There's no award for figuring this out alone. Compare your real options here, first.
There is no single solution that works for everyone. This resource center explains each major approach to resolving debt so you can make an informed decision about what fits your situation.
Which Debt Solution Might Fit You?
Debt Consolidation or Credit Counseling
If you qualify for a lower rate or can commit to a structured repayment plan, you can pay off your full balance without reducing what you owe.
Learn moreDebt Settlement
If your debt significantly exceeds what you can realistically repay, settlement negotiates to resolve accounts for less than the full balance.
Learn moreBankruptcy
When debt is unmanageable through any repayment plan, bankruptcy may offer a legal path to discharge or restructure what you owe.
Learn moreExplore Each Solution
Debt Relief / Settlement
Reduces principalNegotiate with creditors to settle debts for less than the full amount owed. Best for large unsecured debt you can't fully repay.
24–48 mo · 15–25% fee
Debt Consolidation Loans
Requires good creditCombine multiple debts into a single loan with one fixed payment, ideally at a lower interest rate.
24–60 mo · Interest + origination
Credit Counseling / DMP
Full repaymentWork with a nonprofit agency to reduce interest rates and repay your full balance through a structured Debt Management Plan.
3–5 years · $0–$79/mo fee
Bankruptcy
Legal processA federal legal process offering a fresh start. Chapter 7 discharges most debts; Chapter 13 restructures repayment.
3–6 mo (Ch.7) / 3–5 yr (Ch.13)
DIY Debt Payoff
Self-directedUse the debt avalanche or snowball method to pay off debt on your own — no programs, no fees, full control.
Varies · No program fees
Frequently Asked Questions
How do I know which debt solution is right for me?
It depends mainly on how much you owe relative to your income, how delinquent your accounts are, and your credit goals. Our free assessment weighs these factors and suggests a starting point — or you can compare all five options side by side.
Can I combine more than one of these solutions?
Sometimes. For example, someone might use credit counseling for some accounts and debt settlement for others depending on the creditor and balance. A reputable provider or nonprofit counselor can help you sort out which debts fit which strategy.
Which option hurts my credit the least?
Credit counseling and DIY payoff typically have the mildest credit impact since accounts are paid in full. Debt settlement and bankruptcy both affect credit more significantly in the short term, though many people rebuild within 1–2 years.
Not sure which direction to take? Our free assessment considers your debt size, income, credit, and goals to suggest the most appropriate starting point.
Take the Free Debt Assessment →