Strategy No. 1: For those who have less than $20,000 card debt - seek settlement with the creditors
You can confidently negotiate debt settlement with the creditors on your own in order to reduce the total outstanding debt and you have to fully pay off that reduced amount of debt within 30 to 60 days.
In some cases, some people would be able to reduce more than 50% of their debt as a result of their good negotiation skills with the creditor - that is only referring to one account.
If you have multiple card debts, it can also depend on debt settlement companies to negotiate such settlements with the creditors on behalf of you. It is also meant for those who have lack of negotiation skills. Although these companies charged additional fees on their clients, many of them are able to pay off their debt at reasonable full amount as promised by these companies.
Strategy No. 2: For those who have more than $20,000 card debt - look for a debt consolidation service
You can possibly lump all your outstanding balances that resulted from different cards together, and request for an affordable monthly payment within certain period of time. This strategy enables you to focus on eliminating your debt as you'll not be able to use your cards for any purchase at all.
Strategy No. 3: If you have landed with outrageous amount of card debt - get a unsecured personal loan
Getting an unsecured personal loan is always the last resort in which you have to pay more than you actually owe. This strategy is meant for those who want to make use of the low-interest person loans to pay off their bills and avoid bankruptcy.