How to get out of credit card debt without paying:

Your credit card debt might overwhelm you, so don’t worry, because there are a few things you can do. However, you might want to consider that there are repercussions involved. The choice is yours to make:

• Stop paying your credit card bill – If you opt for this option, the debt will be turned over to a collection agency. Also, your credit score will decline dramatically. Even so, there’s a statute of limitations for how long creditors can sue you, which varies from 3-10 years. Although you can stop or skip payments, you’ll be liable for them later.
• Debt settlement – You can try debt settlement, which means that you settle your debt with the current lender for less money than you owe.

How to get out of debt through bankruptcy:

You should consider bankruptcy only if you don’t have other options. Depending on what type of bankruptcy you decide on, you can still be on the hook for some of your outstanding debt:

• Chapter 7 – In Chapter 7, you have some of your assets sold to pay back debt, which means you might lose your home and personal property.
• Chapter 13 – In a Chapter 13 filing, you’re getting set up on a court-ordered repayment plan. Any debt that remains after a certain time passes (5 years) can be discharged.