When you have exorbitant medical bills that you can not realistically pay back – this is often one of the only instances where bankruptcy should be used. This is because unexpected medical costs to save someones life can get to the point where it is just completely unrealistic that you could ever pay it back. When you have debt because of things like credit card debt from overspending. There are other things that you can do to eliminate this debt without bankruptcy and your credit can be completely repaired after the process with easy credit repair. Their are several avenues that you can take to accomplish this.Debt settlement is one option you have to eliminate credit card debt. This is a process in which you stop paying your creditors and deal with the collections process until your creditors are willing to settle with you for anywhere from 20% to 60% of your balance you owe them. This can be a difficult and embarrassing process to get though. Collection agencies are no fun as some of us know all too well. But this can be a great way to completely eliminate your debt by saving the money you were paying your creditors every month until you have saved enough to settle.Credit counseling is another avenue that you can help you avoid bankruptcy. This is a company that helps you manage your money better. They work to reduce finance charges, late fee’s, and other costly debt fees that are holding you back from being able to pay back what you owe.Another option you have for handling debt that has become too much to handle is to borrow money against your home. When you get a loan against a home. Different rules apply when you get a loan like this. Traditional unsecured loans have loan terms as long as 84 months. Where home loans you can have loan terms as long as 360 months. This makes a big difference in the amount of money you are required to pay every month. This means that on months when you can’t afford to pay as much as you do now you will not have too. For example to get an equity line of credit for $50,000 at 9.875% APR. Your minimum payment would be about $411.00 interest payment. You are only required to pay your interest on a home equity line of credit every month. This amount will decrease to $100 as the principle amount gets paid down. Now that is a lot less then you will pay credit card company to borrow this kind of money. To learn more about where you can apply for a loan against the equity in your home visit our website for debt management tips.If you are really confused about all this information and you want to talk to a professional about how you can realistically avoid bankruptcy and still get rid of all this debt that makes it impossible for you to live. Visit My Money Mechanic’s guide for fixing your credit problems at our website for personal finance tools.Another really neat personal finance tool that you should know about is how easy credit repair can be. You can get all the bad things that are on your credit report changed to good things or removed from your credit report. Find out how you can get your credit repaired by visiting our website for personal finance tools.