If you were hoping to live the American Dream, but have found yourself in a nightmare of debt, you are just one of many who are in the same position. But it doesn't have to be the end, because there are protections, options, and services in place to help you with debt settlement reduction and restoration of your financial health. It may take time, but debt settlement options can help even those on the verge of bankruptcy find a way to negotiate a settlement with their credit card companies at less than the outstanding debt. Your bills will stop while you save for a lump sum payment that will close one or more of those debts and free you from that burden. However, creditors won't generally agree to such a settlement until you have missed several payments and are in danger of default. But be careful of debt settlement companies that charge high fees and have a record of failing to complete such arrangements. The United States Organizations for Bankruptcy Alternatives (USBOA) can help you find a reliable debt settlement company that will complete the process. You can also consult a debt settlement lawyer to oversee the agreement.