Control holiday credit card debt
To tackle holiday credit card debt before it grows out of control, Michael Rupured, a financial management specialist with the UGA Cooperative Extension, said the first thing to do is develop a plan of action.

Make a detailed list of your debts, including the balances, annual percentage rates and minimum payments for each. Don’t include your mortgage. Then, pick one debt (usually the one with the highest APR) to use any extra money to pay it down first. Make the minimum payment on all other debts until the first debt is gone.

“As you pay one credit card or other debt off, add that payment amount to another debt payment,” Rupured said. “So, if you have seven debts with a combined monthly minimum payment of $725, continue to pay $725 until you have repaid all seven debts.”

Rupured also recommends applying any unexpected income to your debt repayment.

One way to reduce interest payments is to request a lower interest rate from your credit card company, he said. And always pay bills on time, to avoid late fees.

Finally, help is available for those behind on bills or having a hard time making the minimum payments.

Nonprofit credit counseling agencies can help you develop a debt repayment plan that fits your budget.

If most of your debt is on credit cards, Rupured said the true key to getting out of debt is to stop using them.