Get Out of Debt Fast

When attempting to regain control of your credit card debt and other outstanding bills, you have a few different options to help you get out of debt.   Some options may take a long time, perhaps years, and some options can help you become debt free much faster.   When weighing your options, you’ll want to consider each option to see if it is going to be effective under your circumstances and whether it is going to be the best way to help you effectively and efficiently eliminate your unwanted debt.

What is the Most Effective Way to Become Debt Free Fast?

If you have excessive credit card debt or other unsecured obligations, you can either pay all of your accounts in full, attempt to settle them with a lump sum payment, or you can file bankruptcy and eliminate the debt.  Payment in full is the most expensive option and in most cases will take you many years to complete.  This can eliminate bills for a lot less money than if you were going to pay off the bills in full over a period of years, however to accomplish a settlement you will need to make a lump sum cash payment.  If you are suffering from excessive debt, chances are that you may not have large sums of cash at your disposal with which to make lump sum cash payments for a settlement.  By filing bankruptcy, assuming that you qualify to file, you can immediately eliminate all of your debts and get a fresh start.  Bankruptcy is by far the least expensive option for becoming debt free fast.  It is also the most reliable and most effective method.  If you qualify, you can eliminate your bills in their entirety, and you can get started right away on rebuilding your credit.  With the help of a San Diego bankruptcy lawyer, you can get out of debt San Diego and start reestablishing your credit rating and raising your FICO score.

Paying Off Bills

There are two reasons why paying off your bills is not the best solution to help you eliminate them and get a fresh start.  The first reason is that it can take you many years to pay off outstanding credit card accounts and other overdue bills.  That can mean many more years of financial stress and barely being able to make ends meet. The second reason that paying off bills is not the best solution to eliminate debt fast is that you will delay the rebuilding of your credit rating.  By filing a bankruptcy San Diego, you can immediately get started on rebuild your credit and FICO score.


The main reason that settlement is not the best way to eliminate debt is that it is very expensive to accomplish.  You will typically need to come up with a lump sum cash payment to settle an outstanding credit card account or other account on favorable terms.   If you don’t have large sums of cash at your disposal, then you’ll have to save up the money.  This could mean years of saving up money for cash settlement, which again puts financial stress on you and your family.


When the pressure of mounting debt is putting excessive financial strain on you and your family, bankruptcy may be a good option for helping you become debt free fast.  The fee that you’ll pay to a San Diego bankruptcy attorney to file your bankruptcy will typically be a small fraction of the debt that you owe.  If you qualify for Chapter 7 bankruptcy relief, you can be in and out of bankruptcy in just 90 days and on your way to a fresh financial start.