When debt balloons, it overwhelms. These steps can help reduce the anxiety.
Back taxes, credit card debt, child support—the list of financial burdens can be long and can sometimes seem hopeless. The feeling that debt is out of your control makes everything worse. But there are things you can do and people you can talk to. You can begin cutting your debt and feeling that you’re gaining control. Here are some steps.
- Spend the time to get a complete picture of your debt. Find out who you owe, interest rates, late fees and timing. Talk to your Huntington banker, who can help you make sense of the numbers.
- Learn basic debt terms and payback methods. We have a simple article that explains some of the most important ideas.
- Arm yourself. Our guide to debt apps and tools can help you set up a plan and see your progress.
- Remember, you don’t have to face debt alone. Nonprofit organizations exist for support and planning. If you're interested, here's a list of resources.
- Create a plan you can live with. Working on your own or with a Huntington banker, make a plan to deal with your debt: This might involve consolidating your debt, negotiating with creditors or using tools like The Hub to get control of your budget. There are options out there that can help.