You may have been working your ass off but it seems that your wage is simply just enough for the interest rates that you have to pay for. If you are serious in getting out of the trap, try to look into and consider practicing the following debt elimination techniques: Divert into a credit card which has a lower rate. 2) Pay more than the minimum balance on your debt - Credit companies often require people to pay just a percentage of their debts monthly. If you are thinking that this was intended for your convenience, you would be very wrong. Credit companies get their income from interest. The longer you are indebted to a company, the bigger the interest is going to be. It therefore means only a few interest rates to deal with. You may likewise opt to choose the terms of the interest rates. Next is credit counseling. In here, a third party exists who helps out in consolidating the existing debts. Instead of having a greater loan amount, there only now exists a bigger repayment scheme and the money will now go to the credit counselor because he will already take charge of the distribution of such to the concerned debtors. You need information in order to predict the effects that a debt elimination plan will have on you. You need information on just how much a debt elimination plan could change your life. This will let you judge whether a debt elimination plan will be the best thing for you. It will also help motivate you by showing you just how much progress you have made in achieving your goal to get rid of your debt. They are motivated to work because they know that there will always be a reward at the end of the fight. However, if you are in debt, you will only be working to pay off your liabilities. This means that the rewards of your work won't go to you, but to the financial institution that you borrowed from. A person is actually capable of making this type of credit card debt elimination program on his or her own. However, some people just do not have the time or the expertise to put a credit card debt elimination program like this together. They often consult professionals in order to help them with this.