Take stock of your credit situation. You need to know the facts to make changes. This includes taking a look at your credit report. If you are turned down for any sort of credit, apartment or job based upon your credit, you are eligible for a free credit report every six months from the major credit bureaus. The main credit bureaus are Experian, Transunion and Equifax. You will find links to their websites in our Resources section.
Compare the debts, loans and credit card balances that you have to the money in your bank. Chances are that you will owe much more than you own in hard cash. This isn't good, but it's fixable. Keep in mind that debt is only temporary. Being debt-ridden will pass one day.
When you have acquired the exact amount of money that you owe, it's time to come up with the funds. Look at your debt like it's a hurdle to overcome. You must plot, prepare and plan.
Put it in writing. Write your plan to get out of debt out in a journal. Write it in narrative format, as though you are writing an escape plan.
Call others that owe you money. People in debt often have a pattern of helping others before helping themselves. This is not a smart idea. It means you have a big heart, but God wants you to take care of yourself as well as others. Ask politely if your debtors are in a position to repay your kindness. Chances are, some will jump at the chance to help you in your time of need.
Sell items you no longer want. You can place an ad in a local newspaper. Listing unwanted things in auction websites is also an option. Websites like eBay (listed in our Resources section) can host items you no longer need. However, search the website prior to listing your items to see how exact or similar items sell. You will still have to pay a fee if your item does not sell when you use most auction websites. Simply make sure you have the odds in your favor before placing a listing.
Get a second job if you do not have family obligations. A single parent certainly doesn't have time to get a second job because of responsibilities and the needs of a family, but a person should otherwise get a second job. This will certainly be a blessing in two ways. You will get out of debt in double the time, and you will appreciate the value of a dollar all the more after working so hard for it.
Tithe. You should still contribute to your church while working your way out of debt. It's all right if you have to give more conservatively, but you should still give to those that are helping. Charity and church should not be overlooked in your quest to be debt-free. One much give in order to get. That's God's way.
Limit yourself to the use of two to three credit cards. Only pay for what you can afford to pay off at the end of the month. This will stop you from further debt.