Escaping the debt swamp is something we all want to do so get into debt settlement asap. You then make one monthly payment to the credit counseling agency and they then pay each one of your creditors on your behalf. The downside to this method is even though they reduce the APR on your credit card accounts you might still pay back as much as 120% of what you actually owe.

Tags: credit card accounts, credit counseling agency, creditors, debt settlement, downside, swamp