If you are anything like most Americans, you have likely accrued a substantial amount of debt over the course of your lifetime. Whether you are now facing financial hardship or you just want to begin the process of digging your way out from under your consumer debt, there are many options available to help you begin to make your way towards a debt-free future. Many consumers who find themselves saddled with a seemingly overwhelming amount of debt think that bankruptcy or debt settlement may be their only viable options. While these alternatives could be applicable in certain situations, they are not ideal. Both bankruptcy and third-party debt settlement options can exert a long-lasting negative impact on your credit score, which in turn can harm your prospects for future loans, credit approval, and even employment. If you are not mired in a severe crisis in which you find it virtually impossible to pay your bills, it may be best to tackle the consumer debt reduction process on your own, without the help of a third-party service advisor.