Even the mere thought of accruing interest on your debt, the amount of time it will take to pay off your credit cards, or the financial death sentence of bankruptcy (well, a mere ten years of poor credit) can cause heart palpitations and sweaty hands. You might think that bankruptcy is your only option; however, there are many alternative out there to relieve you of your debt. For example, debt settlement is an innovative solution that can help you to avoid bankruptcy, decrease your debt by up to 65%, and stop the mounting interest on your accounts. In fact, you can have your debts paid off within 6-36 months. Here are ten reasons you should consider debt settlement:

1. You can save thousands of dollars with debt settlement-literally cutting your debt in half. No other debt management program, including debt counseling or debt consolidation can say that. In fact, debt counseling and debt consolidation will likely cost you more money because of the extended payment plans.

2. You can be out of debt within 6-36 months and can start rebuilding your credit almost immediately. Other programs, such as debt consolidation will lengthen your payments twenty to thirty years. With a large lump sum going towards old debts every month, you will have less money for the present and the future.

3. You are in control of your destiny. You can basically decide how much you can make in payments in the amount of time it will take you. Many debt settlement companies tailor their programs according to your needs and abilities.

4. Your information remains private. If you file bankruptcy, your information is made public and anyone can access it online.

5. You don't have to deal with the social stigma of bankruptcy. Debt settlement is a much more positive process that makes you feel as though you have control over your life. On the other hand, filing for bankruptcy can make you feel like a failure and could potentially cause a loss of self-esteem.

6. If your income fluctuates, you can change your monthly payment in order to accommodate your needs. This is the only program that is this flexible; debt consolidation, debt counseling, and Chapter 13 bankruptcy all require fixed monthly payments.

7. The debt settlement company does almost all of the work for you. They deal with the credit card companies, negotiate the settlements, and help you to determine what you can pay. With bankruptcy, you must fill out the paperwork, figure out your expenses, and deal with court proceedings, in addition to the mandatory counseling sessions. And hiring an attorney to take care of everything for you is extremely expensive.

8. You can begin rebuilding your credit almost immediately. Since debt settlement can eliminate your debt within as little as six months, you can begin rebuilding your credit almost immediately. You no longer have to worry about burdensome interest rates or how you are going to make the payments on your credit cards.

9. You can choose which accounts you want to settle and which accounts you want to keep open. This is the part of the program's flexibility. If there are accounts you want to leave open so you can continue using them, you will be able to with most debt settlement programs.

10. You won't have to pay years of interest and late fees with debt settlement. With debt consolidation and debt counseling programs you could potentially end up paying even more money in interest because the payments are extended over a longer period of time. This keeps you even more indebted to your credit cards or loans.