In addition to the convenience of a credit card, companies often offer special rewards and incentives for using their card. Things like air miles, cash back, or points in their gift mall may seem like a good deal, until you consider that studies have shown that people who use reward cards…
Pay the minimum on all your credit cards, and as much as you can afford towards the card with the highest interest rate and smallest balance.
By contrast, debt settlement and debt negotiation are typically offered by for-profit companies. They deal with the credit card companies, look at your budget, and come up with a monthly payment that will be applied to each of the debts you have listed in the debt management program.
In addition to various kinds of credit counseling (that is, education about consumer credit, budgeting and paying down debt), some services will also offer debt management or even debt settlement services.
Some consumer credit counseling services may offer debt management and/or debt settlement. Some will also offer bankruptcy counseling.