Two of the most powerful tools you can use today to avoid bankruptcy include Debt Negotiation and Debt Consolidation.

Debt Negotiation - A process of negotiating with creditors to accept payment that is less than the full amount of the debt owed. Funds accumulate in a special account until enough has been saved to pay off one creditor, and then the process repeats until the debts have been repaid. This process can usually be achieved in 36 months or even less depending on what you can afford.

Debt Consolidation - A strategy sometimes used by consumers to better manage their debt problems. Rather than paying off several separate bills each month, a consumer consolidates his or her debts with a financial institution that will arrange for one lower monthly payment extending over a period of time. Usually takes approximately 4-5 years and the consumer pays back at least as much as they owe.

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