The purpose of debt consolidation is to combine all of your monthly bills into one affordable payment. The end result is that you pay off your debts much more quickly with as little financial pain as possible. A negotiator will work with your creditors to get your interest rate lowered, penalties waived, and balances lowered so you can pay off your bills as quickly as possible.
Do some research in order to figure out what type of debt relief plan is best for you. Make a list of your debts, as well as your regular monthly expenses such as electricity, gas, water, and so on. Determining what expenses you must pay each month will help you decide what expenses you can do without (such as magazines, lunches at restaurants, and so forth).
One of the first steps to take in getting your debt under control is to think before you buy anything. It may be tempting to buy a lottery ticket, but your chances of being struck by lightning are better than the chances of your winning the jackpot. If you put the money you would have spent on lottery tickets towards paying off your debt, it will be a much better use of your money. And do you really need designer clothing? You would be much better off buying non-brand name clothing and putting the money you save towards your debt.
Naturally, you should not use any of your credit cards while you are trying to pay them off. The temptation may be there, but that is how you got yourself into this mess in the first place. In reality, credit really is not necessary for most purchases. All it takes is a commitment to making cash-only purchases and the willpower to save up the money for those purchases.
If you're embarrassed about your debt situation, remember that you are not alone, especially in these economic times. Worrying does you no good at all. It's time to take action to get out of debt, and we can help.
It took you awhile to get into debt, and it will take awhile to get out of it again. Don't waste time worrying about it. Take action now, and your debt will soon be behind you. Don't be too hard on yourself; we all make mistakes. But if it weren't for mistakes, we would never learn anything. So don't beat yourself up about your financial situation. Lift your chin and resolve to keep the lesson you have learned from your debt.