If you are facing exhausting credit card debt, there are several things that you can do to pay it to offer faster with paying less interest than what you are paying now.
Suppose you have multiple credit cards that have reached their limit and face steep medical expenses or other financial hardship. In that case, it is possible to consolidate all of your credit card debt into a single bill. This option could be able to eliminate the high interest rate you are currently paying. In addition, instead of owing many credit card companies, you would just be paying one banking institution if you consolidated all of your debt.
We strongly advise against dealing with debt settlement companies as they often have shady practices like requiring you to deposit a certain amount in a savings account for up to 3 years. In addition, debt settlement companies could leave you to end up owing more than you already owe.
Suppose you are considering filing for bankruptcy because of your credit card debt. In that case, you need to talk to a bankruptcy attorney who will fully understand your situation. If you plan to file for Chapter 7 bankruptcy, this could completely wipe out your credit card debt, while debt consolidation will only wipe out the high interest rate.
When you speak to an experienced bankruptcy attorney, they will provide you with all of your options, including which option will be best for you if you face a large amount of credit card debt.