There are two basic categories of debt, for the purpose of this article, secured debts and unsecured debts.

Unsecured debts include:
Medical bills
Credit cards
Department store cards
Personal loans
Student loans
Bounced checks

Secured debts include:
Home
Auto

How long does the card debt settlement process take?
If you are making a lump sum payment to settle your debts, the process can take as little as one month. That is, of course, if negotiations between you and the creditor don’t drag out. Obviously, if you are making payments to settle the debt, it could take as long as 4 years to settle your debts.