The challenge with debt is that it’s often a slippery slope in that due to the interest and late fees, once you start missing a few payments your financial position can quickly go downhill – as can your credit history. It’s therefore understandable that people in debt wish to get out of debt but sometimes it can feel so emotionally, and practically, overwhelming that people don’t know where to start. A good starting point is the money advice service that offers free and impartial advice on how to get out of debt. This article looks at two fundamental principles of getting out of debt, in an attempt to simplify your thinking, when it comes to this journey.
For most people, having debt in itself, isn’t particularly stressful – it’s the debt collection activities that are unleashed upon you falling behind; such as the red letters, the phone calls, the threat of a ‘home visit’, court action, and even the prospect of bailiffs coming to remove property from your home. Being pursued for debt, is an extremely stressful situation, and often times people in debt are being pursued by multiple creditors with multiple streams of debt collection activity.  
Getting Out of Debt
One of the best ways to reduce the stress of this, is to consolidate the existing debt, into one lump sum in order to get the plethora of creditors off your back.  Have a looking into schemes such as in order to better understand how debt consolidation loans can help you; as the two core benefits aside from the financial benefit of avoiding late charges being applied, is that you are now dealing with one creditor rather than several – and rather than having a number of debts with late payments (which can seriously affect your credit score) you now have one debt with payments that are being made on time.
In short, a debt consolidation loan is one of the best ways to get back on track; as long as you are in the financial position to keep up with the repayments it can give you some breathing room to get back on your feet; the article below provides advice on the different types of loans availble:
The second strategy sounds simple enough, but all too often, when we are focused on debt – we stop focusing on creating wealth.  If you can start to shift your thinking, in terms of looking at strategies to increase your income rather than getting caught up in the lack mentality that comes with being focused so heavily on debt, you will be in a much better position to get out of debt.  There are many ways to make an extra income, from online side-hustles to getting an additional job, or even doing odd-jobs for others such as mowing the lawn or babysitting.  
In summary, the first thing to consider is how to consolidate your debt in order to get things back on track – and then, how you can increase your income, in order to be in a better position to start paying off the debt.  However, in terms of making that extra income, it’s important for your goal to go beyond merely paying off your debt – because for most people this isn’t a very juicy goal; you should also set yourself an incentive such as a nice holiday, or even going out for a nice meal, for when you reach a particular milestone.

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