You must be sure - and I mean absolutely positive - that you have the willpower to pay off those credit cards and not use them again.

No company can promise an end date, but if you have multiple debts, the first one should be settled within a year.

Pay cash. For some reason, it's harder for people psychologically to part with their cash than it is to swipe a card. Maybe it's the act of physically seeing the money change hands, or maybe it's because you don't want to break a $20 for a $2 cup of coffee.

Rolling all of your debts into a single loan is a good idea - in theory. In fact, it can be a great idea.

The interest rate you receive, however, is contingent on your credit score.

After explaining why you're in trouble, ask the creditor if the company would be willing to accept a smaller amount. Start negotiations at about 30% of the total amount due, with the end goal of paying 50%.

Save for your goals. Take note of what's coming your way - vacations, the holidays, what ever is going to cost you money - and start saving ahead of time so that you have a stash when the time comes.