If you are in debt and want to pay them off as easily as possible, there are several options available for your benefit.
You can opt for bankruptcy, debt settlement, home equity, mortgage, credit counseling and consolidation loans.
You should opt for debt settlement, credit counseling or bankruptcy only when your liability is of a considerable amount and you are far behind on your payments.
These are extreme options.
Other than that, you can take up home equity line of credits or refinance your mortgage.
The payments will be lower and the interest you pay will be tax deductible.
If, however, you do not own a home, you can go your bank and ask for an unsecured consolidation loan.
You will pay a fixed amount of money to them for a fixed amount of time.
This will allow you to know how long it will take you to pay off your dues and also, you only pay one debt per month.
You can talk to your creditors and lower the interest rate on the accrued amounts.
If you have a huge liability to pay off, you could opt for credit counseling which will reduce your rate of interest and allow you to pay off your debts.
However, if you miss any payment, they can kick you off the program.
Debt settlement is a very good option if you have huge repayments.
You will have to get your account into default but your creditors will lower the actual balance due and you will have to pay a lesser amount of money.
Debt settlement allows you to pay off your accrued amounts faster than credit counseling.
Bankruptcy is the last resort.
You should consider it only when no other option is available to settle your repayments after you plan how to clear your liabilities you need to make sure that this never happens again.
Find out what made you get into the debts in the first place and try to resolve these issues.
When you pay off your accrued amounts you will be saving the same amount of money that you have been paying your creditors each month.
If you do that, you will not have to get into debt again.