If more than one or two describe you, you may have too much debt:

• If more than one or two describe you, you may have too much debt:
•  I’m not sure how much I owe.
• I can only pay the minimum amounts due on my credit cards and other bills each month.
• The total amount of money that I owe isn’t getting any smaller.
• I often pay my bills late.
• I often juggle who and how much I pay each month.
• I am borrowing from one credit card to pay another credit card.
• More than 20% of my monthly take-home pay goes to pay off debt (other than a home mortgage payment.)
• I put off going to the doctor or the dentist because I cannot afford it now.
• I spend more than I earn.
• I would have financial problems right away if I lost my job or missed a paycheck.

Some ideas that may help you:

• Keep a record of your current living expenses for a month. Look for ways to reduce expenses so you can pay back your debts.
• Consider taking a second job or working overtime to get through the financial crisis.
• Set up a plan for paying back your debts. Then inform your creditors, using WISER’s sample letter, about the debt repayment plan that you are proposing to them.
• Get help from a nonprofit financial counseling agency. Check to see if your local state university (Extension Service) offers a free debt management service. They can help you set up a repayment plan and write to your creditors.
• Cut way back on your credit card use. Leave your credit card at home.