Self-Help

Debt Management

Sometimes it's hard to know – or admit – if you have a problem with debt. It can be overwhelming to realize that you've gotten in over your head, and to worry that you won't be able to pay back what you owe. The key to getting out of your situation is to act now. Don't procrastinate. Taking charge of your finances and creating a plan for tackling your debt will cut down your anxiety and get you on the path toward a better financial future.

First, ask yourself whether debt has become a problem for you. Here are some circumstances that might indicate it has:

Write it Out
Do you actually know how much debt you have? Many people don't. Start by making a list of everything you owe, whether it's a mortgage, a credit card balance, student loans or even money you borrowed from family or friends. Write down:

Then total them up. Looking at the numbers can be worrisome, but this is a positive – and necessary – first step to tackling your debt. FYI...Reviewing your credit report will be helpful in managing your debt. Find out more in the credit report section.