You may not realize it, but resolving your debt problems may just be a matter of negotiating debt. It's true, there are situations in which a creditor realizes they are unlikely to recover the full amount of your loan or credit balance. They may be willing to negotiate a lower interest rate or smaller payment for you. However, they must be convinced that you will be able to keep the new payment schedule or that you will not be able to make the original payments, in some cases because of bankruptcy. If you are unable to negotiate a payment schedule that you can maintain, you may need to call in a credit counseling service or debt negotiation company to accomplish your goals. Be forewarned, however. With the increasing debt problem in recent years, unscrupulous companies have flooded the market, making it important to check a company's credentials to make sure you're not being overcharged and underrepresented. If you are, there are skilled attorneys who can help you file a claim to stop these illegitimate credit companies from doing more damage.