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What can you do to get out of debt?

When you think about the amount of debt you have, does it make you worried about ever catching up? Do you worry about what would happen if you suddenly lost a job?

Maybe you're already behind on payments. If so, you may be worried about being able to catch up after all the fees and interest have been added on. You don't deserve to live in fear because of your finances. Debt relief options exist that can help you get out of debt and live more comfortably within your means.

What are some different kinds of debt relief methods?

Some common kinds of debt relief include:

  • Bankruptcy
  • Debt settlement
  • Debt consolidation


Bankruptcy comes in a few different forms. Chapter 7 and 13 are the most common for consumers. They are usually the last option if you can't get out of debt through other means, but if you're drowning in debt, it may be a good choice for your situation.

Debt settlement

With debt settlement, you offer less than you owe to the lender. If the lender accepts your offer, you pay a lump sum to them to eliminate your debt. It can negatively impact your credit, but not significantly compared to failing to pay the debt at all.

Debt consolidation

The last thing you might want to consider is debt consolidation. Debt consolidation puts all of your debts onto a single loan, so you can pay back what you owe with one single monthly payment. It may be possible to lower your monthly payment and interest fees with this, but you should use caution.

These are a few ways you may be able to find relief from debt. Your attorney can talk to you more about which of these may be right for you.

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Kingcade Garcia McMaken
Miami, FL 33145

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