Have you considered using a debt consolidation plan with one of the many debt settlement companies (i.e. National Debt Relief)?

Debt relief (or debt settlement) is a program offered by third-party debt relief companies to borrowers struggling to make debt payments. Typically, these companies encourage borrowers to use money meant for debt repayment for savings or for other bills and obligations.

While the borrower is saving, the company attempts to negotiate with creditors for lower interest rates and monthly payments on the remaining amount is owed. 

However, these programs do not always go as planned. Many times debt relief companies are not able to negotiate a lower payment for all of your debts. This can have a drastic effect on both your credit and your financial security:

• You may end up paying large fees to the third-party company
• You may incur late fees on the debts you owe
• You may burn bridges with future creditors
• You may have to pay fees in a third-party bank account
• You may have a debt collection lawsuit filed against you
• You may have a negative impact on your credit score