Generally, credit is organized into three major buckets: Revolving credit: where a consumer borrows money from a lender and pays it back at the end or makes partial monthly payments (e.g. Visa and Mastercard). Charge credit: where the lender provides the consumer with a loan under the presumption that it is going to be paid in full at the end of the month (American Express). Installment credit: occurs when the consumer agrees to finance a debt with monthly payments over a predetermined period of time (e.g. student loans or auto loans). Lastly, there is secured mortgage debt.
With respect to credit solutions, there are many options for you to consider depending on your needs and financial situation including: credit counseling, debt consolidation loans, debt settlement and even bankruptcy.