How to Pay Off $20,000 in Credit Card Debt
The more money you can put toward paying off your debts each month, the better off you’ll be.
Explore debt relief options
Find out how to manage debt effectively. Learn about debt relief, bankruptcy, and find ways to become debt-free.
How to get debt relief
Assess your finances
List out your debts. Write down the amount, interest rates, and monthly payments to find the right solution.
Contact creditors
Discuss your situation with lenders. Inquire about hardship programs, lower rates, or flexible payment plans.
Explore debt relief options
Consider consolidation, settlement, or management plans to reduce monthly payments and manage debt better.
Stick to repayment
Commit to your repayment strategy, avoid new debt, and celebrate small wins to maintain motivation.
Find debt solutions
How to Pay Off $10,000 in Credit Card Debt
Dealing with $10,000 in credit card debt can be overwhelming. The right debt relief strategies can help.
Explore How Debt Relief Can Increase Your Loan Approval Odds
Debt is a problem. The more money you owe, the less likely lenders are to approve new loans. When you carry high balances, your credit score will suffer, and it will be harder to get a credit card. What can you do about it? Repay your debts. We know that’s easier said than done. Many […]
Get Rid of Debt and Save Money with Debt Settlement
Debts can easily get out of control. With inflation, Americans are relying on credit cards for everyday expenses. Interest rates are higher than usual. Salaries haven’t kept up. It all adds up to overwhelming debt. Living in debt is stressful. You are handling calls from debt collectors and creditors, all of whom want money that […]
Considering debt consolidation? Here’s what you need to know
Americans are racking up debt, specifically credit card debt. The Federal Reserve Bank of New York found that credit card balances hit $1.17 trillion in the third quarter of 2024. That’s up by $24 billion from the prior quarter. To make the problem worse, credit card interest rates are also at an all-time high. Interest […]
5 Ways to Get Rid of Debt Collectors
Validate the debt before you pay anything. You have the right to dispute it or negotiate a lower payment.
When Is Debt Settlement the Best Option
Debt settlement can help you pay off debts for less than you owe, but it comes with risks.
Use A Personal Loan To Pay Off Credit Card Debt
Using a personal loan with a low fixed interest rate to pay off high-interest debt could save you thousands.
Best Debt Relief Options in 2025
When debt becomes unmanageable and you’re struggling to keep up with payments, debt settlement may be the answer.
JG Wentworth Personal Loan and Debt Relief Review
The financial services company provides debt settlement services, loans, and more.
Payday Loan Consolidation: How It Works
Consolidating high-interest payday loans can save you money and help break free of the debt cycle.
How to Negotiate Credit Card Debt
You can negotiate with creditors to pay off your balances for less.
Does Debt Consolidation Hurt Your Credit Score?
In the end, debt consolidation can help your score more than it’ll hurt it.
How to Consolidate Credit Card Debt Without Hurting Your Credit
Debt consolidation simplifies the repayment process by combining multiple bills into a single payment with a lower interest rate.
Debt Relief Programs: Pros and Cons
Relief programs aim to help people manage and reduce what they owe, be it through debt settlement or credit counseling.
Sued By a Debt Collector? A Guide to Understand What To Do
It is possible to fight and win a lawsuit from a debt collector.
Find Financial Relief with ClearOne Advantage: An In-Depth Review
ClearOne has helped thousands of clients get out of credit card debt for less than they owe.
Find debt solutions
What are the debt relief options to consider?
If you're overwhelmed with debt, there are several relief options that can help you regain control of your finances. Here are four common strategies:
Debt management plans
Debt management plans are offered by nonprofit credit counseling agencies. They combine multiple debts into one monthly payment, often with reduced interest rates or waived fees. This structured plan helps you pay off your debt over time without taking out a new loan.
Debt consolidation
Debt consolidation is when you combine multiple debts into one loan with a lower interest rate. It simplifies payments and can make your debt easier to manage.
Debt settlement
With debt settlement, you or a debt settlement company negotiates with creditors to accept less than what you owe. This can reduce your total debt but will hurt your credit and comes with fees.
Debt relief through bankruptcy
How does bankruptcy work? It legally wipes out or restructures your unsecured debts. How debts are discharged depends on whether you file Chapter 7 or Chapter 13. Bankruptcy can provide a fresh start, but it damages your credit and stays on your report for up to ten years.
Frequently Asked Questions
Does debt relief hurt your credit?
Debt relief can hurt your credit if it involves missed payments, closing accounts, settling for less, or bankruptcy. It can also help you avoid default or collections and may lead to long-term credit improvement. The impact depends on the type of relief and how consistently you follow the repayment plan.
Is debt relief worth it?
Debt relief can be worth it if you struggle to keep up with minimum payments and need help managing overwhelming debt. It may reduce what you owe, save you money on interest, or make your monthly payments affordable. Consider the pros and cons before you choose a debt relief option.
How long does debt relief stay on your credit report?
Debt relief effects can remain on your credit report for up to ten years, depending on the type. Debt settlements and missed payments are reported for seven years, while Chapter 7 bankruptcy stays for ten years. Despite this, your credit can improve with consistent payments and responsible financial behavior.
How does debt relief affect your credit?
Debt relief may lower your credit score in the short term, especially if it involves missed payments or settling for less than owed. In the long run, it can help you build credit. Your score will only improve if you consistently make payments on time and reduce your credit usage.
Is National Debt Relief legit?
Yes, National Debt Relief is a legitimate debt settlement company that helps consumers negotiate lower balances with creditors. It has helped thousands reduce unsecured debts like credit cards and medical bills.