What if you've tried to make a budget to pay off your cards, but the money to pay them off just isn't there? Well, you have a few options.



* Start bringing in more money. You might need to get a second job, or search for a better paying one. There are also some ways you can make extra money from home, such as babysitting or doing direct sales. If it comes to this, putting as much of the additional funds as possible toward paying down your debt will help you get it down to a manageable level quickly.

*When you show a willingness to pay many creditors are ready to work with you. Call your credit card companies and see if they will negotiate a lower monthly payment or bring down your interest a bit. You could even try to negotiate a reduction in your overall balance, however you may find this difficult to accomplish without legal representation.

*Debt consolidation can make debt more manageable. If you are a homeowner consider a home equity loan to turn your multiple payments into one payment with lower interest. Remember, though, that this is a serious decision to be thought out carefully because this loan will be secured by your home.

Also don't get too excited about that low interest rate for your debt consolidation. Remember this loan will have a longer term so you may end up paying more interest in the long run. Try paying more than the required amount to pay it out as quickly as possible.

If you do not want to put your home at risk you might try applying for a new credit card with a high limit and low rate. Then you can transfer the balances of your cards to this one card and reduce your monthly expenditures.

Once you have consolidated your debt you have to be careful not to begin charging things again and run the credit card balances back up. You will be in worse shape than you were in the beginning.

*As a last resort Bankruptcy is an option. If you file Chapter 7 you will be completely debt free. However, you may have to sacrifice some of your belongings. If you file Chapter 13 you will have a payment plan structured by the courts to pay your debts off. Either way this will forever show on your public record and you will have a blemish on your credit report for the next 7 years. That is why this should be your last resort.