That’s not a legitimate thing.

You could default, tank your credit, dispute over and over and hope it falls off (it likely won’t).

You have three options without ruining your credit completely.

1.) Call the companies you owe, ask for assistance on your APR and see if you can work out a payment plan. (If you owe one or two institutions, this could work)

2.) Debt consolidation one of three ways. A personal loan, balance transfer card or debt solution company. (The debt solution company may still harm your credit, you will also pay more in the long run than a standard budget, but they can negotiate on your behalf and take a lump sum payment every month from you that is more manageable)

3.) Bankruptcy: chapter 13 or 7 - Chapter 13 will require you to pay back some or all of your debt, but will structure according to your income and can help greatly. Chapter 7 will wipe your debt (if you qualify and do it correctly), you won’t owe anything but even though both remain on your report for up to 10 years, Chapter 13 is more favorable in the future and it effects you a little less down the road. Although, in some cases I’ve had home buyers get a mortgage 2 years after filing 7. (Get a lawyer and don’t do this because you don’t want to tackle your debt correctly)

First things first, write a real budget, cut some expenses and try to change your lifestyle to adapt to the idea of paying your debts. You owe them and the right thing to do is pay them off. If you haven’t tried living on a strict, written down and consistent budget, then none of these options should be considered. Otherwise you’re bound to get right back in debt and repeat this problem all over again

Erasing debt doesn’t solve financial mismanagement.