How can I settle my credit card debt with no money?

MoneyWatch: Managing Your Money How can I settle my credit card debt with no money? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing roles at The Simple Dollar, Interest, HousingWire and other financial publications. Read Full Bio Angelica Leicht April 9, 2026 / 3:04 PM EDT / CBS News Add CBS News on Google While it may seem impossible to negotiate debt with no money, there are scenarios where it can happen. Getty Images/iStockphoto Rising credit card and household debt balances, coupled with persistently high short-term borrowing rates, have left many borrowers stuck in a difficult position this year. With average credit card APRs still hovering above 21% right now, even small revolving balances can quickly grow into something unmanageable. And as payment delinquency rates tick up, more borrowers are finding themselves behind, or on the brink of falling behind, with few clear options.That's where the idea of settling credit card debt often comes into play. In theory, debt settlement allows you to pay less than what you owe to close out the account, but it generally requires a lump sum payment to be made on the account. But there's an obvious challenge with that: If you don't have money to keep up with minimum payments, how can you possibly come up with a lump sum to settle what's owed?While it may seem impossible to negotiate debt when you have no money, there are scenarios where borrowers can still pursue settlement or at least move in that direction, but it often requires a shift in strategy, timing and expectations. So, ho...