This is one of the first things that you need to do, regardless of how you actually go about paying off your debt. Whether you are going to 'snowball' your debt repayment, or whether you are going to consolidate your debts into one, you still need to construct a feasible debt repayment plan.

In other words, you need to sort through your debts and loans etc, to find out which method of debt repayment is the method that is going to work for you and your situation.

We should have sat down before this point to unravel the depths of the debt problems, by writing them down on paper. (Or, if you are more comfortable using a computer then type them instead of writing them down.)

By doing this, we managed to separate our debt problems so that they are smaller problems instead of one large problem that we might find very difficult to face up to.

At this point then, it is best if we go on to the next step and try to figure out what type of debt repayment plan is best for you.

To do this, you have the option of using any of the debt calculation software that is available these days, or you can even try your hand at doing this the old fashioned way, by hand, or if you want, by entering things into a spreadsheet and doing the calculations that way.

It really does not matter how you go about doing it, what matters is that you actually do it. Without getting things down on paper (so to speak), you will never be able to fully appreciate exactly to what level your problems go.

It will not be as easy for you to ignore, or forget about your debt and loans when you have it written it down somewhere so that you can see the complete extent of how much you owe.

Let me warn you here and now, that it is not going to be a pretty sight. If up to this point, you have managed to ignore, or otherwise not fully take in, the full extent of your debts - and I am assuming that you have, that is the whole reason you are reading this article - you won't necessarily be prepared for what you see.

It's much easier to fool ourselves into believing that we don't have that much debt on us when we only look at individual debts and loans. It's when you put everything together, so that you really see everything at once, that it's honed in us just how much we are in debt. And that is when the panic starts to set in.

So, before you begin to panic, let me just say once more - seeing the total amount for which you are in debt, is not going to be a pretty sight, so brace yourself.

However, that said, when you do finally get over the shock of looking over your total number of debts, you can then proceed on, in a calm and orderly manner to the next course of action which you need to take, that of organizing yourself to be able to repay your debts and get your credit rating back on an even footing.

I have mentioned this before, but I will say it again: it's not going to be easy pulling yourself up by the ears to get out of debt, and you will have to sweat and toil for it, but it can be done. And when the entire thing just seems to be too much for you to take in, always keep in mind - it can be done.