Every way out of debt, explained in plain terms.
Getting out of debt is confusing in the best of times.
When you’re under financial stress and seeking relief, it’s difficult to make sense of your choices and the financial tools available to help manage your personal debt.
The Debt Literacy Center breaks down your choices and decodes financial jargon in plain English, so you can understand what you’re actually choosing before you choose it.
What's on this site
A plain-language explanation of how each major path out of debt works, from budgeting and consolidation to credit counseling, debt settlement, and bankruptcy
A side-by-side comparison covering total cost, timeline, credit impact, tax exposure, and legal protection
Simple breakdowns of the terms these programs use, translated out of industry language