Debt of any kind can be a source of great stress in anyone's life. It's amazing how easy credit gets handed out - especially to those people who should not get it. While the global financial meltdown was a wake up call for all institutions the fact remains that these companies make money from you buying on credit. No one would say it out loud but your debt is their bread and butter. While its easy to start playing the blame game, the harsh reality is that you and only you are responsible for your own financial position.

If you find yourself knee deep in credit card debt then you need to start taking action sooner rather than later. Every day you put it off will only let you sink deeper into the debt trap. It can be painful the stare your financial problems in the eye but its much needed if you want to get your head above water again.

Dealing with your debt will lift a great load of your shoulders and take away a lot of stress that might be wearing you down. So, how do you do it? It really depends on your individual position. If you feel like there is no way out then you should speak to a financial adviser and see if you can go bankrupt and get your debt written off. This should be your last resort as bankruptcy can scar you financially for the rest of your life.

One of the very first things you need to do is to stop spending on your credit cards. No more. If you keep adding to the problem it will only get worse. If you feel the temptation, ask your bank to freeze these cards so that you cannot spend on them anymore.

The next step is to make sure that you pay the minimum amount on every card every month. This is important because it will keep the interest and penalty fees down and prevent your debt from snowballing.

A great strategy is to roll your debts into one or two cards - especially if you have a lot of cards that you owe money on. If you can, find a card that offers an interest free period on balance transfers. This way you can repay the debt much quicker because you won't have interest charges wearing you down. You need to make very sure that you read the rules though and use these interest free cards wisely.

Are you looking for a zero interest credit card? See my blog to read more about using credit cards 0 balance transfer ...

Author's Bio: 

Article by John C. Burrow - Please visit John's website for more infromation and advice.