For consumers who are facing a mound of credit card debt, there are a growing number of solutions and strategies available. Options such as bankruptcy, debt consolidation, debt settlement, debt negotiation, and credit counseling all have their own unique advantages and disadvantages. Before you make a final decision about which approach is best for you and your family, it is important to weigh all of your options carefully. If you are in severe financial distress and have no immediate hope of improving your situation, bankruptcy may be the best option for you. On the other hand, if you just want to reduce your debt and make it easier to get on the path to debt freedom, it may be beneficial to investigate the process of debt negotiation. Most personal finance experts advocate a DIY approach. If possible, avoid dealing with a disreputable debt settlement company and instead seek the advice of a non-profit credit counseling organization in your area.