In general, you can’t get rid of debt without paying what you owe. However, there are effective strategies to help you pay off debt more efficiently. For instance, you may be eligible for student loan forgiveness if you work in a specific sector or have a low income.

When you want to get rid of debt and regain control of your financial future without resorting to bankruptcy, you have options. They include: Repay debt faster with the avalanche or snowball method. Take a second job, work overtime, or start a side hustle. Sell stuff you don’t need and put the money toward paying down debt.

Chapter 7 bankruptcy. This is the only way to get rid of debt without paying it off. You'd have to have a low-enough income to qualify, and you might have to give up some of your property. Talk to a bankruptcy attorney about whether you qualify.

The best way to get out of debt is by using the debt snowball method. Debt reduction strategies like debt consolidation, debt settlement and credit card balance transfers don’t actually help you get out of debt. Making a budget, increasing your income, and lowering your expenses are some ways you can get out of debt faster.