1. Pay more than your credit card's minimum due. Some credit cards allow a very low minimum due payment. Some cards even allow their customers to submit as low as 2% from their total balance. But carrying over balances from month to month can take more from your budget. Don't forget that as you prolong your balance, you also incur additional interest rate charges.



2. Pay off high-rate credit cards first. Do you carry balances on more than just one credit card? If yes, be sure to pay off your highest rate card first to immediately cut back your accumulating interest.

3. Consider borrowing from family or friends. When in need of cash for emergencies, don't immediately acquire payday loans or use your credit card for taking out cash advances. Consider other options. Borrow from a friend or relative to avoid the high interest charges.

4. Negotiate with your creditors. Try speaking with your creditor and ask for new repayment terms. If you think you can't keep up with your payments for the next few months, it's better to negotiate with your lenders right away rather than wait for them to contact you about overdue payments. Never try to hide or ignore creditors juts because you don't have money to pay your bills. If you do, you'll only worsen the problem.

5. Create a repayment plan. It's up to you to take positive action. Analyze your spending and create a repayment plan. Come up with a budget that will enable you to use your monthly salary the best possible way. Prioritize debt repayment. You may not be able to get away from your debts instantly, but even small, consistent steps can go a long way.