If you’re deep in debt and you want to avoid bankruptcy, a credit card debt settlement might be your best option. If you can make your monthly payments and work to reduce your balances, you should find a way to pay more each month and avoid taking any drastic action. This is the best way to protect your credit rating and avoid losing your lines of credit. But if you’ve fallen behind on your payments, your credit is already damaged and chances are your balances have been increasing thanks to late fees and other penalties. In this case, a settlement can get you out from under your debt all at once and help you avoid ongoing credit problems. » Read more: Choose the Right Credit Card Debt Settlement Program