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Crushing credit card balances, and you can barely afford: If this sounds familiar, you may be looking for solutions to help solve your debt problems before they get worse. And, during that search, you may have come across ads from debt relief companies promising to and make the stop. When your finances feel like they're spiraling, those offers can be hard to ignore.

And now that Americans are carrying — and average credit card APRs are still high at north of 21% — many struggling cardholders are turning to these companies for help. That makes sense, considering that the idea of reducing your balances or paying just a fraction of what you owe can sound like a lifeline, especially when you're drowning in that you can't fit into your budget.

But before you , it's important to separate the hype from the reality. Debt relief companies can help in some situations, but they also have their limitations. Below, we'll take a closer look at what they can and can't do for your credit card debt.

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Legitimate debt relief companies offer several services that can genuinely help consumers struggling with overwhelming credit card debt. Their primary function is debt settlement (also known as ), where they negotiate with your creditors to accept a lump sum payment that's less than what you actually owe. This process can result in significant savings, on average, though the exact amount depends on your specific situation and the company's negotiating skills.

Many debt relief companies also offer to those who qualify. These debt consolidation programs work similarly to — they roll multiple debts into one loan with a lower rate, making it easier and cheaper to manage your debt. However, these debt consolidation programs come with a key advantage: They partner with third-party lenders who specialize in working with clients who have minor credit issues. This means you might qualify for consolidation options even if has been hurt by your financial struggles.

Beyond these core services, debt relief companies often provide their clients with valuable education on debt-related issues. They help you , the consequences of different approaches and strategies for managing your finances going forward. This educational component can be particularly valuable for people who feel overwhelmed by financial jargon or unsure about their rights as consumers.

These companies also offer a structured approach to debt resolution that many people find valuable. Instead of juggling multiple creditor calls and , you work with professionals who have established relationships with major credit card companies. They handle the communications, develop payment strategies and can often secure better terms than you might achieve independently.

So, for people facing , such as job loss, medical emergencies or other major life changes, debt relief companies can provide breathing room and professional guidance through what can be a stressful process.

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While debt relief companies can offer significant help to the right person in the right situation, they also have limitations that you need to understand before enrolling. To start, they . Creditors aren't required to negotiate, and some may refuse to work with debt relief companies entirely. But even if a company has a track record of success, every case is different. No one can promise a specific outcome.

They can't stop while you're in the program, either, particularly with debt settlement. Because most programs require you to stop making payments while saving up for lump-sum settlements, your credit score will likely take a significant hit, sometimes by 100 points or more. The missed payments will also stay on your credit report for up to seven years, even after a settlement is reached.

They also can't prevent . If you stop paying your creditors during a debt settlement process, you run the risk of being sued. And while some debt relief companies may help you respond to lawsuits, they can't make them go away.

It's also important to know that debt relief companies for settlement services under the Federal Trade Commission's rules. If a company tries to collect payment before settling any debts, that's a red flag. Reputable firms wait until at least one debt is successfully resolved before charging a fee.

Finally, they can't do anything you couldn't technically do yourself. If you're comfortable negotiating and managing payment plans, you can call your creditors directly and request hardship options, settlements or . Debt relief companies provide structure and support, and their experience with negotiations — and the relationships they've built with creditors — often results in a better outcome than taking the do-it-yourself approach, but they aren't your only path forward.

Debt relief companies can offer valuable support for credit card borrowers who feel overwhelmed and out of options, but they're not always the right option and they have their limitations. At best, they can help you reduce what you owe or restructure your payments so you can get back on solid ground. But at worst, they can cost you time, money and a big drop in your credit score without delivering real results.

If you're considering working with one, do your homework. Look for companies with transparent fees, clear timelines and a proven track record. And remember: You still have the power to take control of your debt, whether that's with help from a professional or by creating your own plan to move forward.