"Credit card debt forgiveness can certainly work, although it's not without its consequences," says Noah Damsky, CFA, Principal at Marina Wealth Advisors. "You can negotiate with the credit card company or consider working with a reputable debt relief company."

Credit card debt consolidation involves combining multiple card balances into a single, more manageable debt — ideally with a lower interest rate.

Once your credit cards are cleared, you can approach investing with confidence, knowing that your returns aren’t being eaten away on the other side.

If you don't want to take on additional debt to pay off your credit cards, these strategies may be a good fit.