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The last and greatest way to escape debt is simply do not pay them back. Last but not least is the option of credit card debt settlement. When you enroll into a credit card debt settlement program you are attempting to negotiate a one time payment to your creditors at a much lower sum than what the balance presently is. The benefits of this are that when you successfully negotiate a debt settlement you will in turn be saving quite a great amount of funds, plus you will be getting off the credit treadmill pretty fast. In particular when you compare how long it takes to get out of debt through the creditors minimum payment program.

This is the reason U.S. citizens are searching for other options such as credit card debt settlement vs. credit counseling, or bankruptcy. If you do not know much about these options then I will give you a little information on them. When asking what debt relief method works best for you, first you must go over your fiscal budget and see how much you can afford each month.