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There’s no end to the challenges you face when you have high interest rate credit card debt. Minimum payments don’t make a dent and the payments eat up more and more of your budget as your balances increase. But if you want to get rid of debt quickly with the lowest cost, you need to understand how to get out of debt in different situations.
This page guides you through different ways to get out of debt, depending on your situation. If you have questions or need help finding the right solution, visit Debt.com’s Solutions Center.
5 basic ways to get rid of credit card debt legally
There are basically five ways to get rid of credit card debt:
- Pay it off
- Consolidate it
- Settle it
- Discharge it through bankruptcy
- Prove it’s not yours (only works for credit card debt collections)
Which option you use to become debt free depends on your financial situation and goals. We outline the best way to get out of credit card debt for different situations below.
