Options for Consolidating Debt Without a Loan

When debt becomes overwhelming, debt consolidation offers relief by simplifying payments, but traditional loans may not be accessible for those with poor credit. Alternatives include debt management plans through nonprofit agencies, debt settlement negotiations, and balance transfer credit cards with low or promotional rates. Debt management allows for a structured payment plan but typically takes years and may impact credit scores, while debt settlement can significantly reduce debt but carries risks. Balance transfer cards can help save on interest but require good credit and come with fees.