Having bad debt will definitely not make you sleep well at night.
You will start to feel paranoid when somebody is knocking on your door, particularly if you're not expecting a visitor.
You ill dread the ringing of your phone.
You are afraid when you get the letters from your mailbox.
Most likely you feel paranoid that you might lose all other belongings you may have because of being unable to settle your past due accounts.
However, you don't have to face all your debts on your own.
For a minimal fee, you can take advantage of the services of a debt settlement company.
One of the things a debt management company does for you is negotiating alternative payment arrangements with your creditors.
For example, your debt management company manages to arrange a 50% settlement of your full debt.
You will be able to pay off your debt, though you credit report will not state a full payment.
This record stays for about three years.
You might have to wait for a while before your credit record clears a bit, but, at least, you will be able to breathe easily since you know that you owe no one no more.
Your bad debt will not seem so bad anymore.
Before getting a debt management company, you may consider asking around or doing a research for a suitable company for you.
You may also get advice from a debt counsellor to make sure that you arrive at a more solid decision in this aspect.
Keep in mind, eliminating bad debt is not as difficult as most people think.
All you need to have is a positive attitude toward dealing with it and a little help from a debt management expert.