Add up your debt2 of 9Gather credit card statements, loan papers and any bills in arrears and write down in a notebook what you owe to each creditor."You now have a realistic number in front of you in black and white. This will take you out of denial and let you know what you need to do," says Mechel Glass, director of education at CredAbility, a credit counseling service in Atlanta.People usually underestimate what they owe, Glass says. Writing it down helps them to see if late fees or other charges are being assessed. Then, they can gain control and figure out how to address the debt. Related Articles:Credit cardsMortgage calculatorStudent loansWays to dump debt in 2010Related Links:Credit card tips for 2010Credit counseling or debt settlement?Debt payoff calculatorGood debt vs. bad debt advertisement
Gather credit card statements, loan papers and any bills in arrears and write down in a notebook what you owe to each creditor.
"You now have a realistic number in front of you in black and white. This will take you out of denial and let you know what you need to do," says Mechel Glass, director of education at CredAbility, a credit counseling service in Atlanta.
People usually underestimate what they owe, Glass says. Writing it down helps them to see if late fees or other charges are being assessed. Then, they can gain control and figure out how to address the debt.