"Help me get out of debt, you say?" OK. Getting mired down in a lot of debt, especially unsecured debt, like credit card debt, is a common problem today. You have to assume control of your situation and do everything you must to start paying down on your debts. Listed below are 7 Top Methods for Paying down Debt that may help you:

1. Assume responsibility. It is a psychological thing. You must assume responsibility for your personal debt situation, recognize that you got yourself into it and you are likely to need to get yourself out of it. As long as you blame someone or something else, circumstances, the recession, whatever, you'll likely make excuses instead of doing the things you need to undertake to get going paying off debt. Ask yourself, "Who will help me get out of debt?" Then answer, "I WILL!"

2. Take inventory. You have to get a clear picture of all your debts. Make a list of name, balance and effective rate of interest on all of your debts. Take charge of your monthly cash flow. What exactly are you currently spending and on what are you spending it? Carry a pocket notepad and record All your expenditures for a month. Come up with a budget; what will you need to expend each month? List your budgeted outgo, subtract this from your monthly income to find the amount you'll be able to pay down each month.

3. Scrutinize your income and outgo. Try to find methods to raise your income and minimize your outgo. You simply must tighten your belt, postpone or forget expenditures you are able to avoid, in addition to finding methods to earn additional income. You've got to get ahead of your monthly bills enough to begin having the highest cost ones cleared and off your back.

4. Make a plan, get going. Make your budget, then when your income will come in, set enough aside for the budgeted expenditures. Then use the remaining balance to reduce your most costly debt. You should usually choose to get out of credit card debt first, since it is usually the most costly.

5. Adjust the setup as needed. Keep tracking your monthly expenditures exactly. Think about what expenses you could reduce or eliminate. Seek out supplemental sources of earnings. Use your ingenuity. Find ways to be able to make larger payments on your debts.

6. Continue; baby steps count too. Don't get discouraged. You didn't enter into your fiscal problems in a month, so you won't get out in thirty days either. Sometimes this could be tough, difficult. Don't stop. Do what you can, the very best that you can. Remember, baby steps count too. Just keep moving forward, in the direction of your goals.

7. Leverage your progress, by first paying off debt that carries the highest rate of interest. Paying off $1000 of 5% per 30 days debt will provide you with $50 more next month! You can use that for paying high-cost debt down even more, and compound your rate of progress.

That's the essence of it. Continue with the 7 tips above, stay with it, keep moving, and you can and will make it happen! The key will be to always live within your income and still have a surplus. You will need that to get out of debt and later, in order to save up a nest egg for investments and a near future contingency account.

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