The first crucial thing to do is to become very determined to resolve the problem. The more you think about how you can reduce spending and increase income the more likely it is that you will do it. Set spending and income goals and write them down. If you write down your goals you are much more likely to achieve them.
Of course you must stop creating any more debt. Cut credit and store cards up ! You can’t keep adding to the problem by continuing to spend. This is quite hard at first but by doing it you will prove to yourself and others that you are serious.
Next, contact your creditors and inform them in a positive way that you intend to tackle the problem and ask them for any help they can offer. You should ask for a lower interest rate or any other incentive they may be able to offer. Don’t be too concerned about asking for help, many people who work for these companies have a lot of experience and will often give you ideas you never thought of. Always be very polite but firm and avoid letting anyone upset you. They would far rather you make some repayments rather than none at all and they will probably be very willing to work with you.
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