How Can I Solve This?

Do it Yourself, One Debt at a Time

Depending on the amount and variety of debt you have, your best option may be to handle the road back to financial health yourself.

• Option 1: Pay fewer bills
  Pay off the debt with the lowest balance first while making minimum payments on other debts. When that is paid in full, then apply the amount of money used for that payment towards the debt with the next lowest balance. And so on.
• Option 2: Save more money
  Pay off the debt with the highest interest rate first, regardless of the balance. Once you’ve paid that one off, you can move to the debt with the next highest rate. And so on.

With either approach, try to build an emergency fund at the same time, even if you put away just $10 each month. An emergency fund will help you rely less on debt to pay for the next unexpected expense.