• What is Debt Consolidation?
  Learn how debt consolidation works to reduce interest rates and save money.
• What Can Be Consolidated?
  Types of high-interest debts commonly used.
• What is Debt Settlement?
  Often confused with, but significantly different than consolidating.
• What Debts Can Be Settled?
  Learn what kind of creditors that will often settle for less.
• How Do Bankruptcies Work?
  How Chapter 7 and Chapter 13 bankruptcies work, and the aftermath on your credit report.

• Budgeting Tips
• Working With Credit Reports
• More Articles & Information
• More Finance Sites

Having a hard time managing your debts? You've got lots of company. Millions of Americans are currently struggling to pay their monthly bills, from high interest credit cards to student loans.

Debt Consolidation Options was created for people like yourself trying to figure out how to get their finances back on track. With a wealth of information about debt consolidation, settlement, negotiation and bankruptcy, it's our hope that you'll take the time to educate yourself about your available options for not only getting out, but staying out of debt for good.

While limited income and relentless creditors can make it feel impossible at times, you do have options for getting out of debt.

Whether you plan to handle it yourself or enlist the help of a debt management company, there are normally three different methods that are used for reducing your financial burden; debt consolidation, settlement (also known as negotiation), and bankruptcy.

What method(s) you use to get back on track will depend largely on the severity your personal financial situation:

When possible for the consumer to do so, consolidation is ideal; as it doesn't affect your credit negatively while still accomplishing your objectives. Unfortunately, getting that better interest rate may be easier for some than others. Learn more.

When you, or someone on your behalf arranges to pay less than what is fully owed to creditors, this is known as debt settlement. While this can reduce your debt burden quickly, depending on the particular arrangements made, this can affect your credit rating, though not to the degree that declaring bankruptcy would. Learn more.

When neither consolidation or settlement are viable options, it is sometimes necessary for an individual to declare bankruptcy. A court proceeding is held to determine eligibility, and if accepted the creditors assets (with some exceptions) are used to pay off as much of the debt as possible. Credit implications can be long-lasting. Learn more.