Either find ways to make more money or learn to live on less.
If you want something different (you) have to do something different!
Aside from that some creditors are open negation and will lower interest rates on a debt, other businesses provide a consolidation payment programs where you essentially have all your credit debts paid off by getting a loan and then you only have one creditor to make payments to. Ideally at a lower interest.
Last but not least depending on where you live and level of debt we're talking about in the U.S. one has the option to file bankruptcy.
The laws vary from state to state and there different versions of bankruptcy; Chapter 7, 11, and 13. Whichever one you choose it will effect your credit rating scores for years to come. Meaning you will have a more difficult time getting credit from anyone and if you do you will be charged a higher interest rate.
Chapter 7 wipes the slate clean except for government student loans but it will stay on credit score for 10 years.
Some folks have gotten around the student loan issue by using credit card advances to payoff student loans prior to filing for bankruptcy.
Chapter 7 isn't horrible if one is age 25 or even 35 because you have time to recover during your prime years of employment.
The other versions of bankruptcy are on your credit for less years. However you are required to pay your creditors back.
Basically it allows you to restructure your debt; possibly eliminate all interest on the loans allowing your payments to apply directly to principal and in some instances creditors will settle for a portion of the debt and write off the remainder. Best wishes!
Read Dave Ramsey's book "Financial Peace University" or Suze Orman's The 9 Steps to Financial Freedom
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