While credit card debt has been a constant source of headaches for most of us, there are ways to get out of the rut. With most individuals, credit card debt follows them around and they will find themselves in a situation where they must make tough choices.

One such option is in working with debt collectors to come up with a reasonable payment solution. But identifying a reasonable payment solution can prove challenging, because the debtor has a number of things that must be addressed. A debtor is going to realize that they’re getting nowhere in trying to come up with a realistic payment plan.

One of the ruts a debtor may be stuck in is in identifying realistic payment solutions that are within their means and still gives them enough to pay for necessities. Most of us have a hard time finding the money to pay for necessities that we need on a monthly basis. This includes clothing, food, a car, utilities, etc. Another thing a debtor may find difficult to deal with isAutomobile payments. This includes oil changes, regular vehicle maintenance and repairs.Other things that may prove to be difficult to devise a payment plan for are credit card debt and most utility payments such as, cable and telephone.

Depending on what you owe and what options are available for debt repayment, these payment options may or may not prove to be viable options for you to explore. If you know that you have been spending a considerable amount of money on personal care and household items, most likely, you’re going to want to come up with an option that allows you to make some reasonable financial choices.

If you’re living on a limited income and know that your money is going to go just to basic life necessities, you need to have a payment plan that is just not exorbitant. After all, you can’t survive on a salary of, lets say, $1000.00 month, if you’re paying a $300.00 a month payment on a credit card. If you have a number of credit cards, and all except one or two of them have outstanding balances, you may want to consider consolidating your credit card balances onto one loan. That’s going to lower your monthly minimum payments, but you’re going to be paying up to $250.00 a month for the privilege, leveraging your current income.

Another factor to consider processually is the amount of time that it’s going to take you to raise the cash you’re going to need to pay off your debts, given the size of the payments you’re likely to have to make. Teach yourself to do real life math, including capitalization and amortization, interest and how the math changes when it’s compounded, and how to float payments, or how to move your debt from one payment plan to another.

Something else to consider is if there are legal options to deal with your debt, i.e., bankruptcy or debt settlement, and how you’re likely to need the services of a bankruptcy attorney. Another option is to get a debt settlement firm to help you. Such a firm can negotiate a manageable, rational debt repayment plan on your behalf. For more information, a search for debt settlement firms can find a number of good ones.