America is a nation of spenders, and this fact, compounded by a sluggish economy, flat wages and inflation have led to more reliance on credit cards. But relying on credit cards to bridge the gap between expenses and your income is a dangerous game.

According to a report on consumer credit issued by the Federal Reserve, the average household reportedly has accumulated more than $14,687 in credit card debt. Still, there are ways to triumph over bad spending habits, bankruptcy and financial crisis and begin the path to financial freedom without the weight of debt bearing down on you. Many consumers turn to lawyers for bankruptcy advice.

Debt Consolidation

Many consumers who have accumulated a large amount of debt via credit cards have turned to debt consolidation services. Typically this involves transferring unsecured debt to one secure line of credit, which minimizes the interest and fees associated with making payments on individual credit cards, thus consolidating the debt into one low monthly payment.

Debt Settlement

Another option is to settle your debt via a professional financial and/or credit counselor who can negotiate a payoff amount that is less than what you owe. This is a typical solution for homeowners and those capable of paying off high amounts. While this method can eliminate debt quickly, there several pros and cons associated with settling debt that should be considered before going with this option.

Credit Counseling

You may want to consider a consumer credit counseling service. In most cases, a reputable certified consumer credit counselor can help you create a personalized financial plan that includes a budget and a working plan of how to pay off debts. However, many of these agencies are expensive and are not an alternative to filing for bankruptcy.