One size doesn't fit all when it comes to dealing with debt. Debts are incurred in all different ways, and by all different kinds of people, and so resolving problems created by debt requires a creative approach.
I come across people who incur debt -- too much debt, or debt at the wrong time -- all the time in my day job; I'm a consumer lawyer, remember, and people call me all the time for help with their mortgages, credit cards, and other debts. These are people like you and me, people who borrowed money for school or to buy a house or a car or got hit with medical debts or lost their job or who got divorced and had their ex refuse to pay the support they owed... people who in one way or another need help with their debts.
Most people calling me are calling to ask about bankruptcy, but that's not the only option they should consider. There's all kinds of debt settlement solutions available, ranging from a simple debt consolidation loan to debt forgiveness to payment plans and more, and each of those needs to be considered in a given situation.
Maybe you want to protect your credit rating but are just having trouble keeping up with high interest rates on your credit cards; if that's the case, a lower-interest debt consolidation loan could be the solution. Or maybe you've got a lump sum of money -- a bonus or tax refund or inheritance-- but it's not enough to pay off your bills. Debt settlement might be an option, then -- offering creditors a settlement of 25 or 50 or 75 percent of their debts.
I know what I'm talking about not just because I help people out with this, but because I've dealt with all kinds of different debts in my life. I'm paying off my student loans, and I've got a mortgage, and we had to borrow money to put on our roof, and we've got credit cards, and I used to have a business that I closed down. Each of those poses different kinds of problems in handling that debt: some are secured debts, some are high-interest, some are tax deductible, but each requires a careful, analytical look at it.
If you're having trouble dealing with your debt, you should talk to a professional and try to analyze all the options you have. Read up on the options, too, and become informed. A good place to start is something like Creditloan.com, a resource site that has articles and options things to help check out.
Make sure you're informed, and make sure you weigh all your options, and then make sure you deal with your debt responsibly.