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Let's face it. You've accumulated a load of credit card debt and you have no idea what you can do. Here are some matter-of-fact solutions to your situation. As much as you would love to wave a magic wand to make the debt disappear, it won't. No, these will not be magical solutions, but no-nonsense solutions so you can get out of debt and remain out of debt.

The first move is to realize your spending is out of control. It truly is. I know there were great reasons to buy all that stuff. Most likely they were emotional reasons. Everyone expected you to purchase all that stuff. You were emotionally drawn to it. You just could not prevent yourself from buying those things.

Remember, commercials you read, hear or watch have just one aim: to get money from your pocket into the pocket belonging to the advertiser. Commercials build on emotion. You need to appreciate this and begin acting wisely when it comes to money.

Hence, now's the time to get practical. Meaning you should start practicing money management strategies that produce results in your best interests over the long haul. You'll need to let go of emotions and do techniques that make sense. Now, here are some no-nonsense steps you ought to take to erase your debt and live debt free.

First, establish how long it is going to take you to eliminate your debt. Paying out the bare minimum required each month, it will probably take 5 to 10 years to repay your debt. That is if you don't increase it by buying more things. You can likely pay more and may even find a way to negotiate a reduced rate of interest with the credit card companies. Both these steps will help you grow to be free of debt quicker.

Second, put a small amount of extra cash away for unplanned events. Everybody has unexpected bills. You should anticipate the bills unexpected events will create by establishing an emergency fund to cover the costs of these unforeseen and unwanted events.

Third, since you can perhaps tell by now, you are going to be running really tight on money. Thus, you'll really need to create a budget. Look at just how much cash is coming in and what your essential bills are. Take into account in your bills money for paying off your debt, plus your emergency fund as well as other costs like food, housing, utilities and transportation. Locate places to reduce spending. Do not let anyone kick your feelings into spending mode. Keep to your budget.

Fourth, when you are having trouble repaying your debt, you could get assistance from a credit counseling agency. The U.S. Trustee Program has a list of credit counseling services that can help you. Some provide their services without cost (and are paid by the credit card companies whereas others charge you a fee for their services. Make sure you agree with any fees before you commit to participating in their program.

The greater your knowledge about credit and debt the more easily you will be able to manage your money and stay debt free.