So here we go. You’ve got all your numbers calculated, all your debit planning done, and you’re in trouble. Don’t panic though, you’re not the first and you won’t be the last.

First, assume that you’re going to fund all your essential bills to make sure your dry, warm, and fed. That’s a given, so don’t sweat it. Second, look at your secondary bills and find out which ones you can cut out. Cable, satellite, high speed internet, and cell phones come to mind. Car payments are another biggie. If you’re making payments on a car, plan on selling it as soon as possible and buying a $500 beater to get you back and forth to work. If you can take a bus or ride with a friend, so much the better. The more money you have to put towards beating back your problems with a debit consolidation loan, the better.

Now look at your credit card payments and figure out which ones you won’t be able to pay by going down the list and adding up the minimum monthly payments. Remember, this is all without the extra money you should free up by getting rid of some of your secondary expenses and/or selling your car. When you reach the last account you can make payments on, set aside some time to call the remaining companies and tell them about your situation. The only thing they need to know is that you owe more money on multiple credit cards than you can afford to pay, and the company to give you the best deal will get what’s left. The others will likely not get anything for quite some time. They’ll work with you, trust me.

Finally, take any money that you can free up from your secondary expenses and apply it to the smallest credit card balance until it’s paid off. Then attack the next one, and the next. Before you know it, you’ll be applying a substantial amount of money to the bigger balances and be beating them. This strategy, combined with a debit consolidation loan, will get you on the right track.