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.

Even in the days of the tightest credit in 2008, HELOCs [ home equity line of credit ] and home equity loans were being made.

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

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

One thing I want to make clear: You never want to hide from your debts. It doesn't work.

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.