10 Steps to Getting Out of Debt:

1. Face up to exactly how much debt you’re in. Add it ALL up so you know the exact extent of the situation. Only then will you be able to devise a plan to get yourself debt free.
2. Cut up ALL credit and store cards into tiny pieces.
3. Seek advice from a Debt Advisory Service. There is free advice available and there’s nothing better than facing your situation head on with the help of an expert. Most advice is available over the telephone.
4. You will need you set yourself a budget for general living including, rent, council tax, utility bills and food, etc. You will need to know the bare minimum you will need to live on. This is where you’ll need to be tough on yourself and ask yourself if you really need certain luxuries you may have become accustomed to.
5. Calculate exactly how much you can afford to pay your creditors each month.
6. Contact each of your creditors and try to negotiate acceptable and realistic payments (usually 60 months). This is where the advisor can come in handy, as they can contact your creditors on your behalf and not only negotiate affordable payments but also have the interest frozen or your debt written off.
7. Avoid the temptation to consolidate all your debts and take out ANOTHER loan to pay off the existing ones. You will only be adding yet more debt when you’re trying to free yourself of debt.
8. Make sure that you stick to your agreement without fault, paying on time is crucial; you want to start to repair your credit status not make it worse.
9. Become a savvy consumer. Look for the best deals, become pennywise. If you’re in the habit of being a little thrifty then now’s the time to curb it.
10. If possible take on extra work; it’ll be hard getting accustomed to the bare necessities. A secondary income will ensure you don’t miss out for the next 5 years.

Credit repair may take time but these 10 steps are a good place to start.