Ways to deal with debt.

Start by looking at your budget and the debts you owe. Learn about each option, including its costs and risks.

Ask the companies you owe for help.

Ask about a hardship plan if you are struggling to pay. Some companies may change your payments for a while. Get the terms in writing. Ask how the plan would affect your account and credit report.

Talk to a nonprofit credit counselor.

A counselor can help you review your budget and explain your options. They may suggest a debt management plan. This is usually a plan to repay your debts over time, rather than reduce the amount you owe. Ask about all fees and whether each company you owe will take part.

Learn about a consolidation loan.

This is a new loan used to pay off other debts. Compare its interest rate, fees, payment amount, and length. A lower monthly payment can still mean paying more overall.

Understand debt settlement.

Settlement means asking a company you owe to accept less than the full balance. It can refuse. If you stop making payments, fees and interest may grow, your credit may suffer, and you may face debt collection or lawsuits. You may also owe tax on forgiven debt. Results are not guaranteed.

Ask about legal options.

If you cannot afford your debts, a qualified lawyer can explain options such as bankruptcy. If you receive court papers, get legal help promptly and do not miss the deadline to respond.

Try the calculators to explore numbers you enter. They do not tell you which option is right for you.

These are general options, not a list of services currently offered by Fresh Financial Solutions. Learn more from the Consumer Financial Protection Bureau.