A debt settlement plan is a viable option for unsecured debt, i.e.: credit cards, store and gas cards, medical and utility bills.  A debt settlement plan is a proven way to get you out of debt.  These plans eliminate the need to make individual payments to each of your creditors and allows you to make a single monthly payment.  A credit card debt settlement analyst will be able to negotiate a reduced amount of debt owed to your creditors and may also be able to reduce or eliminate interest and late charges.  One you establish a payment history any harassing collection calls should stop.  A debt management plan will have a negative impact on your credit rating as most creditors will not negotiate unless the account is in default.