Debt is a BIG stressor. Debt problems can be overwhelming and the deeper you're in debt the greater the stress. The good news is with the right plan you can get out of debt and regain control and get your life back.

Here's what you do.

Commitment

The very first thing you need to do is make a commitment to yourself to do something about the financial situation that is causing your stress. By taking control of your finances, you're taking control of your life. Be realistic, getting out of debt will take discipline and it does not happen overnight. But with the right plan, you can do it!

" this is a problem that I am going  to deal with"

Know your credit

Get a copy of your credit report. Your credit rating should be treated like a precious diamond - a big one. Having a low credit score can cost you a boat load in high interest rates. If you have recently been turned down for credit you can get a free report, otherwise they cost about $15, worth every penny if someday you want to buy a car or a house.

Your credit report can be a real eye opener, make sure that it is accurate. It can be a rude awakening when you go to apply for a loan and are declined because you find out that there is a mistake, like a late payment to a company you have never heard of. It happens!

A good place to get your credit report is Privista, when last checked they only charged $12.95. They give you unlimited online access to an easy-to-read summarized credit report updated weekly. They also will analyze your report and give the answers to improving your credit score.

" I take responsibility for my debt"

Plans for consolidation

If you have debt which is "unsecured" , this is usually credit cards, student loans,  medical bills, department store credit cards and collection agency accounts then Debt Consolidation Loans and Debt Consolidation Plans are your options.

Debt consolidation loan- This is where you take out a loan to pay off your existing debt and then make one monthly payment to pay off the loan.

You have to qualify for the loan, so your credit needs to be decent and you have to have collateral for the loan.

Either way, Premier Equity may be able to help you. They are the premier site for debt consolidation loans, you can fill out a no obligation application and they will find the best loan for your situation.

If the loan does not work for you, then  a debt consolidation plan is the next best option. The way this works is the company  re-negotiates the terms of your debts with your creditors. They will work to lower or eliminate high interest rates, erase late fees and over-the-limit charges and even work to get the credit card company to  take lower payments. On this type of plan, you make one monthly payment which is then disbursed to your creditors.

The nice thing about these is you know exactly what to pay and when to pay. And most importantly, you know when you'll be debt free!

The best consolidation plan company we could find is Debt Saviors. They are non-profit and have a debt management program that helps over 1 million consumers and there is no charge!

 "I am going to do something about it, winning the lottery isn't going to happen"

Lower your everyday expenses

Lowering your everyday expenses is a must. You will be amazed at the money you can save by making a few changes.

• How much are you spending in long distance phone calls? Compare what you pay to what you could pay at SmartPrice. It is a free service, they ask you a few questions about your telephone habits and you will  get honest, accurate information about telephone products and services that are best for you
   
• How much are you spending on insurance? This is a huge expense and it is always a good idea to shop around. Insurecom.com has a free service to compare auto, life, home and health insurance rates. They work with a network of thousands insurance agents and companies.
   
• How much are you spending on books, music, movies, electronics, sporting goods or computer stuff? Half.comhas HUGE savings on all these things.It is easy to save at least 50% on most things.

 "when I take control of my debt, I take control of my life"

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