The first step is to consider all of your options for getting out of debt. Before I set-tled on negotiating my own debt, I had to consider whether it was feasible to just pay my creditors, approach a debt settlement specialist, or declare bankruptcy.

So what are the options to get out of debt?

Debt Management Counseling - Substantial consumer debt can be addressed with debt management counseling. Although credit counseling has received bad press in the last few years, there are many nonprofit organizations that help people to get out of debt without any hidden agenda.

The National Foundation for Credit Counseling (NFCC) works with almost two million American households annually. Credit counseling is required for bank-ruptcy filing (option 5).

By far the best way to go about debt management counseling is to work with one of the member agencies of the NFCC. People working for this organization are definitely there to help you and can recommend a whole variety of solutions.

The Association of the Independent Consumer Credit Counseling Agency (AICCCA) indicates that many independent organizations charge a nominal fee for service but their assistance is usually totally confidential and quite effective if you can afford to pay off your debt.

It is very important to explore all your options before deciding what process is the best for you. Don't jump to conclusions without doing your due diligence and properly preparing. The process could be life changing so you want to treat it that way. Your first step is to take action now.