TOP 10 TIPS ON GETTING YOURSELF OUT OF DEBT.

1. Multiple debts should be prioritised. If you are falling behind with your mortgage, rent, utility bills or anything else that may result in you losing the roof over your head then these should receive your most urgent attention. If you have debts outstanding on credit cards, store cards, etc then put them in order of highest interest rates first.

2. It is essential that you immediately set about the drawing up of a budget. This will allow you to have an accurate idea of how much money you will have to repay debts each month. It will show where you may be able to make some cut backs and allow you to plan control of your spending in the future.

3. If possible switch to a credit card with a lower interest rate. A balance transfer to a 0% card will at the very least buy you some extra time. This doesn't, however, mean you should continue to use the card in the same vain as before! You should avoid using the new card completely and dispose of all your old cards immediately

4. Dispose of all spare store cards and credit cards and ensure that you contact all the necessary companies involved to cancel all accounts. Failure to do this will result in the companies reissuing cards tempting you to carry on spending.

5. If at all possible try to speed up your repayments. Minimum payments on credit cards take an eternity to repay so if you are able to make larger monthly payments then your debt will be reduced much quicker and enable you to finish the repayments sooner.

6. Check out Yahoo there is a section called Bills Centre this may enable you to find cheaper gas, electric and phone bills. You may also find that moving to Pay-As-You-Go or altering your tariff on your mobile phone can help.

7. If your mortgage is on a lender standard variable rate try to move it, again the competition is fierce in this sector and could help reduce immediate debts.

8. Clear your house out of anything that you no longer need and go to a car boot sale or set yourself up on a website like E-Bay and sell it. You will be grateful of the extra space and may be surprised by how much extra cash it might bring in. Taking an extra job on in the evenings or offering yourself for overtime can also bring in some much needed cash.

9. Always stay in touch with your creditors. They are used to dealing with people who are attempting to reduce their payments or have their interest frozen and they will be much more agreeable if you remain in contact.

10. If you decide that enlisting a debt management company is in your best interests ensure that they explain all the options available to you before you make a decision.