If you are looking to settle your debts, there are some quick and easy ways that you can use to get out of debt an stop those annoying collection calls.

Solution 1-Debt Settlement

Call up your creditors and explain that you are in a situation and need some relief. If they agree to help you out, it can lower your debt balance and get you out of debt in a single payment. The problem is solved right away.

Solution 2-Debt Relief

If you cannot make a single payment to end your debt issues, go to credit counseling. This will allow you to work out a plan with creditors with the help of a financial professional.

Solution 3-Debt Consolidation

Take all of your balances and combine them into 1 payment each month. Doing this allows for lower interest payments and could possibly lower your balance as well.

Solution 4-Bankruptcy

This will discharge your debts and you work out a payment plan with your creditors. After 2-5 years, you are fully free of your debts and the slate is wiped clean. However, this hurts your credit score immensely, so think carefully before bankruptcy.

Solution 5-Combination Of All The Above

If you have different lenders, and different types of loans, this might be your best bet. Some loans cannot be discharged in bankruptcy court, nor will all lenders agree to a debt settlement. You have to take your own financial situation, and the particular loan, into account.

Having debt is not fun, but settling that debt is a great feeling. Make sure that you contact your lenders today if you are having problems with your debts and paying off loans. It is much better to come up with a plan than to be in debt and having your creditors constantly calling you wondering where that next payment is.