No company can promise an end date, but if you have multiple debts, the first one should be settled within a year.

You need a clear, legitimate excuse for why you're behind [the bankruptcy], such as a layoff, divorce, or medical emergency. Be prepared to back up the circumstances with supporting documents. Anything you have to substantiate your story - including proof that you have, for instance, been actively looking for a new job - will help.

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.

By definition, saving - for anything - requires us to not get things now so that we can get bigger ones later.

The interest rate you receive, however, is contingent on your credit score.

You fall a bit behind on a credit card bill, your interest rate soars, your minimum payment rises, and you start falling more and more behind every month. You don't see an end. But you don't want to file bankruptcy either. What you can do - and should do - is negotiate.

If you'd asked me a few years ago about debt settlement companies, I probably would have told you to avoid them.