Americans are carrying more credit card debt than ever, and with average credit card interest rates now topping 21%, even relatively small balances can quickly become a big drain on your finances.

If debt collectors are calling you daily but you can't afford to pay off what you owe, the idea of enrolling in a debt management program can be pretty tempting. After all, these programs claim to ...

Debt management restructures your debt so you can pay it off. Debt settlement involves some amount of debt forgiveness. If you don't qualify for debt management, debt settlement might work for you.

Debt relief isn’t a quick fix for money problems. The process, also called debt settlement or debt resolution, involves paying a company to negotiate with your creditors in hopes of getting them to ...

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

There are several ways to deal with overwhelming debt, and the right one for you depends on the severity of the problem and the resources you have. If you’re exploring debt management vs. debt ...