Take control of your debt in 9 easy steps

After the financial hardships of the past year that have affected millions of people across the country, many are working hard to manage their debt.

With unprecedented job losses during the 2020 pandemic, many people have relied on credit to make ends meet. While this may have been a fortunate rescue at the time, it has left many with a sizable balloon of debt.

Lined Circle
Lined Circle

Meeting your financial obligations head-on is the best way to start making a dent in your debt. So let’s take a closer look at a few ways that you can take command of your debt.

Lined Circle
Lined Circle

Know What You Owe

Before you can make a solid plan for managing your debt, you need to have a clear picture of everything you owe.

Pay Your Bills On Time

The most obvious way to avoid getting into trouble with your debt is to make all of your payments on time.

Create a Budget

A great way to better view your finances is to create a simple budget. Always include all of your payments on your budget and list your income.


Creating a bill payment calendar can help you to stay on target with your debt budget.

Minimum Payments

If you want to bring down your debts, it’s always a good idea to pay more than your minimum payments.

Prioritize Your Debts

When you make a list of your debts, the second step should be to list them in the order of priority. Your mortgage should be at the top of your list.


If you have delinquent accounts that have been sent to collections, it’s essential to give these your attention. When your debts are moved to a collection agent, it has a negative effect on your credit rating.

Emergency Fund

The most common cause of financial trouble is when people experience a costly emergency like a vehicle breakdown or an unexpected medical bill.

Get Help

If you feel overwhelmed by your financial situation, you can get the help you need from a credit advisor. They can help you to make a plan for repayment of your debt.

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