Credit card debt is one of the most common types of consumer debt in the United States. Americans rely heavily on credit and many are currently burdened by overwhelming credit card debt. If you have significant credit card debt, you may be able to negotiate a settlement with the credit card company by offering to pay between 50% and 70% of the total amount you owe on your credit card.

Credit card debt is also dischargeable in bankruptcy, so be sure to speak to a reputable bankruptcy attorney before attempting to settle your credit card debt. In some cases, bankruptcy represents a more comprehensive debt-relief solution.