If you default on an unsecured debt, you won't lose anything (except points on your credit score).

Debt settlement companies work as a middleman between you and your creditor. If all goes well (and that's a big if), you should be able to settle your debts for cents on the dollar. You'll also pay a fee to the debt settlement company, usually either a percentage of the total debt you have or a percentage of the total amount forgiven.

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

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

If you default on an unsecured debt, you won't lose anything (except points on your credit score).

If you are, consolidating at a lower interest rate can help you pay off your debt faster. But if there's even a small chance that you'll spiral back into debt, it's not for you.

You can have a do-over starting today. But you have to get over the feeling that it's too late