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If it seems like a long, long way out of the black hole of your debt load, then this article is for you. Check out the questions here. If you answer yes to even some of them, your debt load may be out of control.

1. Do you wake up at night, worrying about how you’re going to pay all your bills?
2. Do you get nervous when the telephone rings, thinking it might be a creditor, calling to collect?
3. Do you wonder how you’ll ever meet even set monthly payments, like your utility bills?
4. Do you often leave unpaid balances-not just on your credit cards each month-but on your electric bills, heat bills or phone bills?
5. Do you live off a line of credit that you have never paid off?
6. Are you unaware of how much money you owe-in total?

If you answered, “yes”, to even some of these questions, you may have a bad debt problem. And, if you’re not paying down and paying off those

, ongoing bills, or line of credit, your credit rating is likely taking a hard hit, too. And that will hurt you in the future if you need more credit to buy something you really need. Creditors want to know that you not only meet your monthly obligations, but also that you can pay that obligation off altogether. If your credit history is spotted with late payments, non-payments, or even re-possessions, it may be time to take a hard look at your debts.

What do you do first?

You must face up to your debt load. You have to add up all those debts, including your credit cards, unpaid ongoing debts like electricity, and any other debts, like the money you owe your folks or friends. You can do this with your spouse or partner, and even with the kids. Get everybody on board to face the debt problem together.

What do you do next?

Once you know who and what you owe, see if you can consolidate some or maybe even all those loans into one payment. Having one huge debt payment may seem intimidating, but making only one payment each month, or at least fewer payments, can help you to keep track of your debt and help you pay it off sooner.

How can you reduce your debt load to one payment?

Lots of people don’t know that they can often get a loan if they own their car (or other vehicle) and it’s less than eight years old. If you do, a car title loan may help you in lots of ways.

* A car title loan can help you consolidate your debt to reduce the number of payments you make each month, and so help you track your debt load better (and not miss payments so often).
* A car title loan can help you improve your credit because you’ve been approved for a loan.
* And best, with a car title loan, you get to keep your car and drive it, just like always.

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