In the world of personal finances, debt relief is any process or program that reduces or eliminates debt. Common examples include bankruptcy, debt settlement, debt consolidation, or debt management plans. While any debt relief is attractive, remember that if it seems too good to be true, it is. This overworked cliche is particularly applicable in the world of personal finances-there are many scam artists promising to take your money and make your problems go away. If you’re not savvy, they will take your money.