Every working professional--as well as people from the world of business or from any other field--is overburdening herself with a non-sustainable amount of debt.

Debts including credit card bills, other miscellaneous bills, and small loans can make a person so helpless that he or she is ultimately left with no other option than to file for bankruptcy. Filing a bankruptcy is not a perfect solution to your debt management problems. A bankruptcy, if recorded in the credit books of the person, remains there for the next ten years; and until then he or she is not eligible for any kind of loan or financial help.

Debt settlement consolidation bankruptcy is a very convenient and result-oriented method for getting out of debt in a short amount of time.

How can a debt consultant help you?

If you're seeking debt relief on multiple accounts, it's worth scheduling a free consultation with a credit-counseling agency that offers debt-management programs and budgeting advice. You can find such an agency through the National Foundation for Credit Counseling (800-388-2227).

A certified credit counselor can help you assess your options. For example, you might qualify for a debt-management program, in which you make a single monthly payment that the credit-counseling agency then allocates among your creditors to pay off your balances in full at reduced interest rates over time, typically three to five years for total card debt of $25,000 to $30,000. During that time, penalty fees and calls from debt collectors come to a halt.

Your credit score may suffer in the first year of the program, mainly because you must close the accounts you're paying off, but the damage is rapidly offset because most issuers begin reporting your account as paid on time after you've followed the program guidelines for a few months.

Depending on your financial circumstances, a debt-management program can be free or for a set fee (generally an enrollment fee of no more than $25 and a monthly fee of no more than $50). Nonprofit agencies can offer low fees because they receive grants or donations from major card issuers. In 2008,. Many organizations today offer debt settlement programs for people fighting to recover from debt mismanagement. These debt settlements will consolidate the debts of the person and help them regain their original financial status within a short span of time.

The procedure for becoming a part of these debt settlement programs is relatively easy, too. You simply contact a debt settlement consultant who has a significant amount of experience; and she will advise you on how to fill out the debt consolidation form. She will review your debt management program and will explain how debt negotiation works.

After evaluating whether you are qualified for the debt management program, the debt consultant will calculate the monthly budget you need to set aside to meet the debt settlement payments. After that, the consultant will notify your creditors that she represents you. From then on, you will only have to work through that single representative, rather than through all of those firms.