Ignoring your debt won't make it go away—in fact, it will only get worse. Interest and late fees continue to build, and creditors are focused on profit, not your struggles.

Debt consolidation used to be a solid option, but qualifications are now stricter, and many face high interest rates of 10–12% or more.

Bankruptcy may stop creditor harassment and collections, but it comes with serious long-term consequences.

There are two main types:

• Chapter 7: Eliminates most debts with no repayment required (not everyone qualifies).
• Chapter 13: Requires a 3–5 year repayment plan before remaining debt is forgiven.

Creditors would often rather negotiate a settlement than get nothing from bankruptcy.

Debt settlement (or negotiation) offers a way to reduce your total debt without filing bankruptcy. Many clients become debt-free in 2–4 years.

It works by negotiating with your creditors to accept less than the full amount you owe. You make monthly deposits into a dedicated account, which builds over time until settlements can be reached.

Unlike bankruptcy, it avoids court proceedings and keeps you in control. This path isn't for everyone, but with expert support, it can be a life-changing strategy.