The psychological toll of debt can be hefty, but there are strategies you can use to break free from this stress.

A debt management plan (DMP) helps overwhelmed borrowers pay back unsecured debts, like credit cards or personal loans. Read Next: 5 Subtly Genius Moves All Wealthy People Make With Their Money ...

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.

Freedom Debt Relief reports stopping bill payments can lead to late fees, credit damage, collection efforts, and potential ...

Key takeaways Debt consolidation can simplify your finances and potentially lower your interest rate. There may be upfront costs that can offset potential savings. People with good credit may qualify ...

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 ...

NASHVILLE, Tenn. (WTVF) — If credit card debt has you feeling stressed, you’re not alone. Yeah, credit cards can be a helpful tool, but it's easy to quickly fall behind and for some, it can be a ...

One way to help manage credit card balances that finance experts swear by is the 20% rule. “ [A rule that] recommends keeping ...