New tools and financing programs have been developed to help consumers consolidate credit card outstanding balances with other bank cards.
Recently, financial institutions have been trying to help defaulter card holders by offering financing plans that allow them to payout their debt, by transferring outstanding balances from all accounts into a single one, with a preferential fixed interest rate, and longer terms. The requirements are: 

• Turn in the request application.
• Picture ID
• Last statement from the accounts you plan to transfer.
• And in a few institutions, a letter explaining why you defaulted on your payments.

With these documents, institutions are able to check the information with CIC, and follow through with all requirements established for each institution. If the result is positive, the request is approved, and in some cases the credit lines are expanded.
There is also the possibility you have a healthy credit history, than you can consolidate your debt by getting a payroll credit, another financing with preferential terms. Keep in mind these financing plans should only be used in order to renegotiate your credit card debt.  Don’t pursue other practices that will only increase your debt again.

In case you choose to take advantage of this option, carefully review the terms and conditions of the new financing plan: interest rate, payout term, installments, commissions, insurances and surcharges for late payments to make the negotiation as favorable to you as possible.

If you are no longer eligible to credit, and your requests for the options above have been denied, you need to evaluate your situation to determine what your options are. When your debt is in nonperforming loans, and banks and collection agencies start to put pressure on you, try to negotiate with them. Some banks ask for payment of a percentage of the debt before initiating negotiations. If you don’t pay, the bank might start a civil action against you, that should be replied to on specified times.
After proceedings have been initiated, the bank will request that your assets are impounded to guarantee payment of your debt, which might implicate taking your house, car, computer, and even furniture. This won’t happen until all lawsuit formalities have been finalized, and the judge’s sentence is against you; however, all this won’t happen overnight.

Whatever legal defense you have will only administrate conflict and gain time, making sure you pay what is fair, but it won’t excuse you from paying your debt. It might help you make a payment agreement.
Depending on the circumstances, your financial adviser might be able to negotiate payment for a reduced debt agreement with your creditors.

According to a negotiation for debt reduction, a creditor could agree with reducing the debt, or the interest rate paid, in exchange for a promise to pay the reduced amount in accordance with the specific terms. Keep in mind these are agreements negotiated privately, but they are legally binding. A negotiation like this could be a better option than file bankruptcy or creditors contest.
Depending on the result of the negotiations, it may take somewhere around three years to pay the debt, and the creditors may accept to receive from 20 to 80% of the original debt.
After paying the agency charges and the debt itself, you will notice an average of 40% in savings.
However, be careful with agencies that promise to reduce your debt or installments significantly. Many of them are not legit, and they probably won’t be able to keep their word. Just like with consolidation of debt, if it sounds too good to be true, it probably is.
If you use your credit card responsibly, you will be strengthening your financial future. The following are a few tips on how to do so: 

• Your credit card is not the same as free money.
• Charge to your credit card only what you will be able to pay later.
• Credit card is not a substitute for cash.
• Pay your balance within a reasonable period of time.
• When you don’t payout your balance, interest will be charged to whatever balance is pending.
• Notify your card’s issuing bank when you move to a new address, so you keep receiving your statements on time, and avoiding late charges.
• If you have questions, call the issuing bank; the telephone is on the back of the card, or on the statement.