As the credit card bills pile up and the variable interest rates on your cards climb higher, it's easy to become trapped in a cycle of debt that you can't easily overcome. And, when you add the ...

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

Debt management restructures your debt so you can pay it off. Debt settlement involves some amount of debt forgiveness. If you don't qualify for debt management, debt settlement might work for you.

After an initial evaluation, a counselor will advise you on the best course of action to tackle your debt, whether you need general personal finance advice, bankruptcy counseling or something else.