Get the lay of the land
The first thing you need to do is take stock of your credit situation as a whole. As painful as this may be, it will allow you to get a realistic picture of what lies ahead.
You should calculate how much you owe on each debt, how much interest you’re paying on each debt, your debt total and the timeframe you’ve been given to honour each debt. Don’t forget to include any fees and charges you are also currently paying.
The first thing you need to do is take stock of your credit situation as a whole. As painful as this may be, it will allow you to get a realistic picture of what lies ahead.
You should calculate how much you owe on each debt, how much interest you’re paying on each debt, your debt total and the timeframe you’ve been given to honour each debt. Don’t forget to include any fees and charges you are also currently paying.