How to get out of "Debt"

If you are in debt and need help, you are not alone. Many people worldwide are up to debt to their eyeballs because of the crazy and frenetic spending that went on in the nineties and much of the new decade.


When you say to yourself, "I am in debt and need help!" you most likely feel very anxious because of your debt problems and would love to solve these problems immediately.

Being in debt is like having a huge albatross hanging over you. It does not feel good to be in debt, and you most likely wish that you could be debt free as soon as possible.

Unfortunately, it took a while to get into the debt that you are currently in, and it will take a while to get out of this debt. If you could magically snap your fingers and your debt would be gone immediately overnight, this would of course be the best thing.

When you are plagued by credit debt issues, debt solutions seem to be a difficult thing to find. It is most likely hard for you to stop using your credit cards, especially if you have no expenses and real emergencies come up for you. At that point, you wind up deeper and deeper in the debt hole and it becomes a desperate, frustrating, and truly alarming situation.

You may sometimes even feel like throwing in the towel and giving up. You know, however, that this is not the answer and that finding debt solutions to your debt problems are really the answer
So what can you do right now, that can set you on your way to getting debt help and finding a solution to your problems with debt?

1.First thing you need to do is getting all your credit cards together, student loans, car payments, and other debts and add these together. It is truly important to know exactly how much debt you are really in so that debt solutions can be found in the foreseeable future.

2.Determine what is the highest interest rate on all of your debts. You are going to want to tackle this first. Make sure that you put everything in order in a very neat and organize way.

3.Little straggler debts like $200 or $500 should also be taken care of first. These little nuisance debts should be gotten out of the way as soon as possible.

4.Put all of your credit cards away in a safety deposit box out of reach. Keep only one card for emergencies. It is worth $6 per month at your local bank to keep these credit cards out of reach.

5.Set up a monthly budget that includes your bills that you MUST pay as well as entertainment expenses. Put an affordable amount away in cash reserves for an emergency. Make as much of a payment that you can on your credit cards to slowly chip away at your debt. Prioritize entertainment costs, clothes, and other luxuries, and start cutting out some of these that are the least important. Do not totally give up on your luxuries because you will become upset, feel very deprived, and perhaps lose your resolve to get out of debt.

If your debt problems are really severe, it is important that you see a credit debt counselor that is preferably from a non-profit agency rather than one that is for profit.

Good luck in solving your debt problems and getting out of debt for good! Life is much better when you are debt free and have abundance!