Can I reduce my debt and monthly payments without damaging my credit for the future?
You may ask your lenders and creditors to make some improvements on your payment plan and terms. This way you may lower your interest rates or negotiate a reduced settlement on some debts.
Another option I would suggest to you is to opt for a debt consolidation loan. Essentially, you need to take another loan from a lender that pays all of your existing debts in full. Only then those debts will be listed as “Paid in Full” on your credit report and will not hurt your credit score.
This type of debt consolidation loan will lower your monthly payments into a single payment per month. It may also reduce interest-rates but probably have longer repayment terms.
Hope that helps.