Work with a credit councilor who will create a debt management plan (DMP) for you and attempt to negotiate better interest rates with your creditors.
When you are making payments but you aren't making progress with your principal.
Combine multiple debts into a single monthly payment. Eliminate multiple creditors with a personal loan that will greatly reduce your monthly payment.
When you have a number of debt obligations and you are struggling to make payments.
A company creates a dedicated account for you to make monthly payments while they negotiate with your creditors to accept less than the debt owed.
When you aren't able to make payments and are risking bad credit.
Essentially you are committing to making the minimum payments and using available online and offline tools to determine a strategy that may help reduce your debt.
When you are happy with the situation and the risks.
A legal process where all your assets are evaluated and used to settle debts. Chapter 7 and Chapter 13 are the most common options.
When you have tried all other options, are still struggling with debt and have spoken to an attorney.