A crucial part of getting out of debt this August is finding the right strategy to do so. Getty Images/iStockphoto

As high interest rates remain the norm and the cost of everything from groceries to housing continues to rise , it's getting harder for those with credit card debt to fit both their necessary expenses and their debt payments into their budgets. To make the numbers work, some are cutting back on their spending. Others are refinancing or consolidating their debt to make it more affordable. But for those who are feeling truly stuck between their regular expenses and their debt obligations, two strategies — debt forgiveness and debt management — are drawing more attention.

These terms are sometimes used interchangeably, but the reality is that they're two v

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