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How you can do it

You can pay off credit card debt. In fact, it's really not that hard in most cases. Of course, the question is how.

Often when we get in over our heads, our instinct is to panic or get overwhelmed and just ignore the problem.

At least I know I've done that many times myself.

So the first step is to sit down with all your bills and a calculator and take a deep breath. Relax.

Now let's get started on figuring out exactly how much you currently owe .

NOTE: If you'd rather do your calculations on the computer, you can access a pretty cool free budget calculator by clicking here .

If you are committed to doing this by hand, start by simply add up the balances on all your credit cards.

Make sure you include all your bills - department store cards, gas cards, medical bills, credit cards, etc.

Once you have everything added up, it's time to make a ballpark estimate.

How big is your total debt load?

If your total debt is in either of the first two ranges, you might well be able to pay it down completely by simply applying an extra amount each month to each of your credit cards and other bills.

In this case, I highly recommend using the free budget calculator available here.

This calculator will help you assess your budget in detail and determine just how much you can pay each month.

NOTE: Even if you determine that you will able to pay off credit card debt using an increased monthly payment, you could still save money with a balance transfer to a lower interest card or even a debt consolidation loan.

If your total debt is in the second two ranges - in other words, over $5,000 dollars - unless you have a significantly higher than average income, you might well be better off considering a debt consolidation loan or consulting a debt settlement firm.

The reason for this is that, given the high interest charged by most credit cards or other forms of personal debt, it is hard to make much headway paying down a very large balance.

In this instance, you might need to either lower the interest rate such as through consolidation, or you need to negotiate better repayment terms with your creditors.

It is possible to save money by negotiating your own settlement with your creditors, but you should only do this if you have done your research and are fully aware of your rights and the applicable law.

I have found one company that helps you prepare to negotiate your own debt settlement. This company is called Zipdebt.

The unique thing about this company is that they offer one-on-one coaching in addition to audio preparation materials.

In any case, if you do decide to negotiate your own settlement, make sure you do your homework and are prepared - otherwise, you can make mistakes that will seriously damage your credit.

Whatever your situation, there is a way to pay off credit card debt. It might take a little work and dedication, but trust me, it will really be worth it in the end.