What to do when you owe too much? Don’t be afraid to contact your creditors. Calling them might be your salvation.
In case you are facing too bigger debt, it will take more than reducing your credit card interest rate, following a budget, paying more than the minimum each month, or closing credit lines. You might need professional help, but if you’re not ready to ask for it, we offer you the following advices:

• You are not alone. There are many people in the same situation you are, feeling they are drowning in debt, but too worried to ask for help.
• There are many professionals highly capacitated and willing to help people in your situation.
• Seek financial consulting organizations.
• Pick up the phone and call a professional.

 
When looking for help, seek the ones you trust. Your financial institution, the Bureau of Consumer Protection, family and friends can be good sources of information and recommendation. If you opt to hire a financial advisor, the following advice can save you time and money.
Call your creditors before they call you. Explain your problem, and let them know that you are taking the necessary steps to reduce your debt. Serious creditors prefer not sending debts to collection; they prefer negotiating a payment plan directly with you.
Creditors want to be paid; they are willing to work with people committed to get out of debt. Study a plan you can show them. Identify the amount you can send them monthly and allocate a larger portion of the payment to higher interest rate debt. Document the agreement trough a letter.