Millions of Americans currently have credit card debt, and with credit cards becoming easier than ever to obtain, the numbers of people in debt are climbing. Even people with poor credit scores are getting accepted with high interest credit cards that just end up getting them in more debt.  

If you have a large amount of debt and want to get rid of the debt once and for all then here are some recommendations:

1. The obvious first step is to get a free copy of your credit report. Understanding who you owe and how much is the blueprints for getting out of debt.  Then take a look at what you are spending your money on, and be honest with yourself; start to cut back on unnecessary spending. This is very hard for a lot of people.

2. I would recommend taking your smallest debt loads with the highest interest rates and pay off as much as you can on those ones first. Do this without missing payments on any of your other balances. As soon as you have your smallest balance paid off, simply roll that amount that you were paying from that account to the next smallest account balance. If it makes sense in your situation you could also do the same thing but consolidate all of your accounts into one low interest rate credit card.

This is where most people make the mistake, instead of rolling the highest payments to the next balance they see that clean balance on that credit card and start spending again, don't do that.

3. Some people recommend Debt Counseling or Debt Management companies, but I would recommend staying away from them. One good reason to stay away from them is that most debt management companies will hurt your credit rating or credit score.

One good thing about these companies is that they typically make it easier to make payments to your accounts, but they charge you fees and sometimes make your payments late. So you might want to just transfer your current balances to one credit card if that makes it easier for you.  Be sure to choose a card with a low interest rate. This way you won't be paying unnecessary fees that could be going towards the debt principle. 

Old, valid debts may not be legally collectible in court so if your debt is over 10 years old, then you should definitely consider researching more options before starting new payments after not having paid on them for a while. This can actually hurt your credit rather than help it.

4. Stop using your credit cards all together. Start using your bank account/debit cards. If you are currently using your credit cards because you run out of money before the month is over then take step one very seriously. You'll always be able to find ways to cut back on your spending.

5. "Always spend less than you make!"

Hopefully these tips will help you with your finances, and if you have any really good techniques that have worked for you, then be sure to include them in the comments below.  With the right credit education, we can help more people improve their credit score and get their life back on track!