Following is a "guest post" written by my friend Debra.
A few years ago she found herself deep in debt - and watching other friends filing bankruptcy. She decided to get out of debt and created a plan, which she followed. Debra says anyone can do it and she wrote an ebook on the subject. I've read the book, and found it to be clear and easy to understand.
I think more people could get out of debt if they followed her step by step plan. And no, she didn't pay me to say that, and this isn't an affiliate product. I just thought it was useful information.
This is her September ezine - which she gave me permission to share:
Now is the time to get serious about getting out of debt (debt here refers specifically to credit card debt and other unsecured consumer debt).
There are at least three good reasons to take action toward becoming debt free.
To begin with, having a lot of debt causes stress. When you're carrying debt, a good amount of your thinking is preoccupied with figuring out how you are going to make the payments and worrying about making ends meet.
Face it. Being in debt takes up lots of energy, and that is energy that could be used in other, more productive ways. Studies show that debt is also hard on relationships largely because of how the stress changes how you relate to others. Financial problems are often cited as one of the main reasons why couples divorce. If for no other reason, this justifies getting your debt paid off.
The second reason that now is a good time to deal with your debt is because you will have more money freed up to use in other ways. All of the money that you are currently paying in interest is going into someone else's pocket when it could be going into your pocket. That money could go into savings or be used to buy cash for something you need instead of buying it with credit. 
One other advantage of having more money available is that your debt to income ration will improve which will result in your credit score going up. This can save you money on interest, for example, if you plan to buy a home.
Many employers are starting to look at potential employee's credit scores before hiring, so this is another way improving your credit score could be beneficial.
Another good reason to pay off your debt is because of the uncertainty of the current economy.
Right now, with the high unemployment rates and ballooning national debt, one of the smartest moves you can make is to have as little debt as possible.
When you are indebted to the credit card companies, you are at their mercy. They can change the terms of your agreement as long as they notify you within a certain time frame, and you can be sure that they will look out for their own profits first. In other words, they don't have your best interests in mind. Don't take the chance of being caught off guard with changing terms or conditions that leave you in an even worse situation.
Once you make the commitment to get out of debt, your first step should be to sit down with all your statements and calculate exactly what you owe.
Making a list of everything you owe is a good starting point. But don't stop there. Make a commitment to go all the way to become 100% debt free.
I know you can do it. How do I know? Because I did it, and I know you can too.
If you want to know what I did to get out of debt in a short time, check out my guide, Drop Your Debt Fast: A Guide to Getting Rid of Debt.
To a debt free future,
Debra
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Visit Debra's website, www.DropYourDebtfast.com to get some good advice, and find out more about the ebook.
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