It's time to get real. You have a load of credit card debt and you do not know what to do. I've got some practical solutions to your predicament. No matter how much you would like to wave a magic wand to make the debt disappear, it won't. No, these are not magical solutions, but matter-of-fact solutions to get out of debt and stay out of debt.

The very first move is to understand that your spending is a disaster. It really is. I know there were excellent reasons to buy as much as you did. Most probably those reasons were emotional reasons. Everybody expected you to buy what you did. You were emotionally attracted to it. You just could not help yourself.

Keep in mind, commercials you read, hear or watch have only one aim: to get money from your pocket into the pocket belonging to the advertiser. Commercials build on emotion. You have to comprehend this and start acting prudently when it comes to money.

Hence, now's the time to be sensible. That means you need to begin practicing money management methods that work in your best interests over the long haul. You will need to let go of feelings and do things that make sense. Now, here are some no-nonsense steps you ought to take to erase your debt and stay debt free.

First, establish how long it will take you to eliminate your debt. Repaying the minimum required every month, it will perhaps take 5 to 10 years to eliminate your debt. That's if you do not add to it by buying more stuff. You can possibly pay more and may even be able to negotiate a reduced interest rate with your credit card providers. Both these actions will help you become free of debt sooner.

Second, put a small amount of extra money away for unplanned events. Everyone has unforeseen bills. You can anticipate the bills unexpected events will produce by building an emergency fund to cover the costs of these unexpected and uninvited events.

Third, since you can probably tell by now, you are going to be running pretty tight on money. So, you will need to develop a budget. Determine just how much cash is coming in and what your required expenditures are. Include in your bills money for paying off your debt, plus your emergency fund as well as other costs like groceries, housing, utilities and transportation. Find places to reduce spending. Don't let other people kick your feelings into spending mode. Keep to your budget.

Fourth, when you are having difficulty eliminating your debt, you can get help from a credit counseling agency. The U.S. Trustee Program has a list of credit counseling services that can assist you. Some provide their services at no cost (and are paid by the credit card companies whereas others charge you a fee for their assistance. Make sure you agree with any fees before you contract to participate in their plan.

The greater your knowledge about credit and debt the more easily you will handle your hard earned dollars and stay free of debt.

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