Getting Out Of Debt - Proper debt management and reduction are the first steps toward securing your financial situation. Consult a good debt settlement company who will help you settle your unsecure debt, negotiate your payoff balance, and reduce your interest rates with your creditors. If you own your home, it may behoove you to use your home's equity to eliminate your debt. Also, if you qualify for a lower mortgage rate, you would probably be able to save money by using a low interest home loan against your equity, and pay off your higher-interest items. As always, remember that an equity line is secured by your home, and you must be able to pay the mortgage each month or you risk losing your home. There are also numerous loan modification programs out there that will enable you to modify your loan terms to help avoid foreclosure. So, weigh all your options before deciding how you will pay off your debt. By learning how to manage your debt, consolidate credit cards, pay off bills, and control your spending, you can get that second chance you deserve. Oh, and don't forget the advice your grandma gave you: always try to live within your means.