No matter how bad your credit problems are, as long as your creditors have not defaulted on your loans, there is hope to clear your debt and get back on your feet. One option is to try credit debt negotiation. Your creditors would much rather negotiate with you for slower repayment or a portion of your payment than lose any chance of recovery if you file bankruptcy. First, try negotiating your interest rate down or ask for smaller payments over a longer loan life. If you are unsuccessful, there are credit counselors and debt negotiators who will negotiate for you for a fee. The more unscrupulous the company, the higher the fees. If you have missed several payments, your creditor may be willing to accept a lump sum settlement for less than the outstanding debt. However, you may want to enlist the aid of a counselor or lawyer to negotiate this complicated settlement. In fact, a lawyer can effectively represent you in all of these credit debt negotiations, especially if your creditor is especially resistant to the negotiation process.