Don't let the fact that you're spending time getting organized result in late fees on your credit card bills.

You settled a debt instead of paying in full will stay on your credit report for as long as the individual accounts are reported, which is typically seven years from the date that the account was settled. Unlike with bankruptcy, there isn't a separate line on your credit report dedicated to debt settlement, so each account settled will be listed as a charge-off.

You won't be caught off guard and you won't feel guilty, because you'll be spending money that you've allocated for the occasion.

Take the cards out of your wallet. A debit card is accepted just about everywhere that credit cards are, and you'll be spending money you have - always a good thing.

It's not about having it all. It's about having what you value most.

If you are able to settle, you'll be getting off rather easy. Debt settlement companies can sometimes get you off the hook for a large percentage of your debt - in many cases, up to 50% will be written off.

You really don't need to hire a debt settlement company to negotiate with your creditors.