Debt relief is not that far away for anyone, who suffers with mounting debt.
The object is to clear your debt so you can have your credit restored.
The better your credit score is, the more likely you will get credit in the future.
There are several things that can affect your credit score.
If you have debt that is so high you can't handle it and begin missing payments, your credit will be affected in a negative way.
One way to get your credit score back up is to settle those debts.
In most cases, debt settlement is the best way to go, since negotiators work with your creditors to lower the amount you owe.
The reason debt settlement works is because when you are behind in your payments you may consider doing any of the following:

• Bankruptcy
• Never pay
• Wait for collection proceedings

In any of the three cases above, creditors will not get the full amount of what is owed, or none at all.
You will find, in many cases, your balances cut in half or lower.
Once you have completed your plan, your credit score improves in a relatively short time.
If you are retired and not planning on getting another mortgage, and you have a lot of credit card debt, you may want to consider debt settlement as the way out.
On the other hand, if you are young and are thinking about buying a home in a year or two, you may want to think twice about it.
This is because you will simply add on more debt to your monthly budget.
Some consumers will take the equity they have built up in their home and pay off their credit cards and other unsecured debt.
However, if you really do not have any assets to speak of, and you do have a lot of unsecured debt, using a debt settlement program may be to your advantage.
If you do have a low credit score (600 FICO score and below), the impact of debt settlement may still be negative in the short-term, but the credit impact will be so negligible, when compared to the savings you will see when your high interest credit cards are cut off.
And if you already have accounts in collection or you have charge-offs, debt settlement will likely improve your credit score since you'd be paying off seriously past due accounts.
If you do go with debt settlement, keep in mind your credit will take a hit initially.
But you will have the chance to restore your credit within two to three years.
This of course depends on how much credit you have, and what your previous credit score.
Once you complete your debt settlement program, and use some proactive rebuilding, you should find yourself in a position where your credit score will go back up.
When this happens, your chances of getting new credit will be greater.