Card debt is the main problem that concerns the USA government; the large number of consumers which can't afford to pay back their debt has forced the economy to solve this problem and offer different debt relief options.
There is a real concern about consumers which are still thinking about bankruptcy as soon as they end up in debt and can't afford to pay it back.
Bankruptcy is not your best option when facing debt due to the fact that you will have to pay for the process which will also include a lawyer and other court fees.
The time you spend proving your inability to pay your debt is quite long and you will always be stressed regarding financial documents and other paperwork.
Let us not forget about the lasting effect that bankruptcy has on your credit score and that fact that you won't be able to get another loan for a decade.
There are debt management programs available that can help you with your problems and offer you valuable information.
Debt management means you can go to a specialized company and they will analyze your financial situation and then offer you with different options from where you can choose the one you think is best.
Debt management also includes payment plans; this can be of much help because it can clear your debt if you follow it and don't let it add up like you did with your debt.
Card debt settlement is an option you can use after you get your financial situation analyzed by a professional company.
If you are fit for this option you can start looking for a debt settlement company and also start saving some money; you will have to pay a percentage of your debt back to the creditor in a lump sum, so you can start depositing money for a few years and eventually clear your debt.
Make sure you weigh all of your options before you take a decision, you cannot afford to spend money on an option which won't bring you maximum satisfaction.
Look into debt settlement because that is the most prevalent debt relief option.