Plan your strategy. As annoying as it seems to be analyzing all details of each credit card and loan you owe, you must do it and preferably write down the numbers.
- Decide which debt you want to pay first: the high interest rate or the lowest balance
- For those debts, decide how much above the required minimum you can afford to pay each month. This will determine how fast those debts will be paid off.
- For other debts, setup automatic monthly payments
If you cannot afford to make the total monthly payments towards your debt, you may want to consider professional advise from a credit counseling company or a bankruptcy attorney