Does this sound like you? You have too much debt to handle — maybe you've charged more than you can afford on several credit cards, you have school loans plus a car and house payment, and the usual payments for utilities and food. You're having trouble making monthly payments, perhaps you are already a few months behind, and you're starting to be (or have been for some time) hassled by debt collectors.

If so, debt restructuring is exactly what you need! The idea is that you change the way your debt is structured by lowering interest rates, lengthening repayment schedules, combining several payments into one smaller payment, or getting some of the debts forgiven, and at the same time, you stop getting further into debt. You may have to give something up, but you'll probably come out way ahead in the long run.

There are a number of ways to restructure your current debts. You might see a credit counselor to discuss your options (this is often a good place to begin because it's usually free), consolidate most of your debts into one payment, sell some of your assets, use the equity in your house to pay off your debts, or declare bankruptcy.