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Falling into substantial debt can be highly traumatic. A lot of people don’t realise just how stressful being in debt can be, and what the impact can be on you and your family. While it’s far too easy to end up in debt, what it is important to realise is that no matter how much debt you are in, it is possible to get out of it again and get your finances back on track.


2018 is fast approaching, which is what makes now the perfect time to focus on getting your finances back in shape and getting out of debt once and for all. Of course, with Christmas just around the corner, that might seem more impossible than ever, but it doesn’t have to be. The fact is that it is possible to say goodbye to your debt and make a fresh start for 2018.


Speak to a financial advisor


The first step is to speak to a financial specialist about the situation that you are in and explain what debts you have and how much you owe to different debtors. If you don’t know what you owe, the best thing that you can do is take the time to sit down and add up each of your debts, to ensure that when it comes to working out a plan to put in place, you have everything that you need to hand. You may be able to get a free half an hour session with a financial advisor, so that you can chat through everything without having to pay for an actual meeting, which if money is tight, could be incredibly helpful.


Contact your creditors


Once you have a plan of action to use and implement, the next step is to contact your creditors and discuss your debts with them. Don’t be afraid to contact them, as more often than not, they are incredibly understanding people who, despite what you might see on television and in films, only want to help. It might be scary facing up to what you owe, but I promise you, once you have made the phone calls and spoken to each company that you owe money to, you will feel so much better for it.


Take out a debt consolidation loan


If paying back each of your debtors individually is going to be too difficult, the best thing that you can do is look at taking out a debt consolidation loan instead. Specialist debt companies like are able to offer debt consolidation loans that allow them to purchase your debt, meaning that each month you only have to pay them back, rather than paying a range of different debtors. Often, a debt consolidation loan can be the answer to your problems, as it will allow you to get your debts under control and start the new year with a clean slate.


The hardest thing about being in debt is feeling like you will never get your finances back on track. It isn’t easy owing companies money, but if you bury your head in the sand, you will make things ten times worse for yourself. It’s much better to face the problem head on and start fixing things, rather than ignoring the problem. Take the time to put a plan of action in place for your debts, and you can ensure that come 2018, you get things back on track and are in a much better place financially.