Debt reduction is a concern for many people. Here are eight steps you can take to get your debt under control.

• Don’t accumulate new debt! Cut up those credit cards or file them away in a drawer. Put them in a bowl of water in the freezer if you have to. The first step in eliminating debt is not adding to the existing balance.
• Get rid of the temptation and reduce the amount of junk mail you get. Opt out of new credit card offers by calling 1-888-5-OPTOUT.
• Ask your creditors to reduce your interest rates. If you always make your payments on time, your creditors may be willing to work with you and lower the interest rate on your debt.
• Always pay more than the minimum amount due. A $1000 balance at 0% APR will take over FIVE YEARS to pay off if you only pay the minimums.
• Use an automatic bill payment service in order to avoid incurring late fees.
• If you anticipate a tax refund, consider using the lump sum to reduce or eliminate your credit card debt.
• If you have a good credit score, consider consolidating your debt by taking advantage of balance transfer offers.
• DON’T trade unsecured debt for secured debt. Resist the urge to use a home equity loan to pay off your credit cards.