If you’ve maxed out your credit cards and you’re getting deeper and deeper in debt, chances are you are feeling overwhelmed. How are you ever going to pay it down?
After you differentiate between spending for needs and splurging on wants, cut back on the second category, especially if you're already suffering an income loss or other financial hardship
You may be able to lower your cost of credit by consolidating your debt through a second mortgage or a home equity line of credit. Remember that these loans require you to put up your home as collateral.
