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Plan your finances and get professional counselling
You alway need to make your monthly budget and follow it. In the end all the extra money you can use them to pay your debts. The only important thing is to really stick with your budget and you’ll have a good chance to lower your debts but also to lower your interest fees.
It also possible not to know exactly if you can save any money and in that case is better if you get some professional counselling.

Try to combine your debts
Taking a debt consolidation loan can always be a good choice. This means that you’ll take a loan from a provider (usually a bank) and they will repay all you debts to your creditors. After that you’ll need to return the loan but you’ll have just one monthly payment to do and also your interest fee will be smaller.

Talk with your creditors
Call your creditors and try to renegotiate your payments. You can talk with them about:

  • Lower your monthly payments

  • Extend the period of time to make your payments

  • Talk about a lower interest rate

If you don’t want to talk with them personally you can also hire a professional debt management counsellor.

Sell a possession
Sometimes selling a one of your possessions can help you to escape debt. If you don’t have any other choice then this a quick and easy solution.

Always make your payments on time
Start paying your monthly fees on time. It is always a good start to reduce your debt or at least to stop going to even more debts. All the late fees that you pay when a deadline pass you can use them to reduce your current debt.

These are just a few tips about how you can start to reduce your debt.