The main thing here is not to panic, it won’t help the situation and it certainly won’t help you plan your way out of it either, so find a way to settle your mind and get yourself organized.
This might seam like an inconsequential step but it really isn’t. Sitting down to really look at your debt situation can be a traumatic experience for many people and you need to prepare yourself mentally, just as an athelete prepares physically for a marathon.
Check out the 7 simple steps to debt freedom and make yourself an exit plan. This will be individual to you but will probably involve at least some of the steps in our detailed action plan. It will hopefully help you to get a few quick money saving wins and arm you with a really good idea about the extent of your debt and budget contraints.
If you’ve done all this an realise that you do need a consolidation loan, debt relief order or remortgage, then that’s OK, at least you are sure that you didn’t miss a trick along the way.