How repay credit card debt fast
Usually, the settlement company tries to settle your debts to the amount which you can afford and arrange a monthly payment plan for you. That's why they usually make an analysis of your financial condition before proceeding further. So, I can say that it solely depends on your financial condition and debt amount that whether you should opt for debt settlement or filing for bankruptcy!
If you file Chapter 7 bankruptcy, it will take 3-4 months to discharge debts. If you file Chapter 13 bankruptcy, then it will take 3-5 years to pay off your debts. If you choose a debt settlement program, then it will take 2-3 years to repay your debts.
Both debt settlement and bankruptcy drop credit score. But bankruptcy hits your credit score more drastically.