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Credit card debt is perhaps one of the most common stressors among consumers. In order to get out of debt, you need to make a drastic change in your life. Sometimes this means simply making a plan and sticking to it. Other times, it means seeking out professional help or even government assistance. Whatever route you choose to eliminate your credit card debt, it’s best to begin with a few essential steps:

1. Take Stock

What do you have? What do you owe? What’s the future hold? These are important questions and you can’t get out of debt without knowing the answers first. Take time to gather up all your credit card debt information including statements, bills and balance information. Next, figure out your monthly income. These will help you when figuring out how to take care of credit card debt.

2. Cut Expenses

You may already be living on a shoestring, but try even harder to pare down every extra expense. The best way to identify where all the money is going is to create a budget. You can find free budget spreadsheets online that will help you track your spending.

3. Negotiate

One way you can reduce your credit card debt liability is to simply call up your creditors and see if you can work something out. If you have been a good customer up until now, you may be able to negotiate a lower interest rate or get an extension to avoid late fees. The worst your creditor will say is “no” – and if you get a modification to your loan, you could save thousands of dollars in the long run.

4. Make a Plan

There are many methods out there to help you tackle credit card debt. The important thing is to choose one. Whether you come up with a simple plan where you save X amount of dollars each week to pay towards your credit card debt or if you employ a more sophisticated plan such as the debt snowball, the key is that you have a plan that you can take action on.

5. Consolidate

One thing you can do is consolidate your loans. You can do this on your own or through a debt consolidation services provider.  A debt consolidation loan is basically one big loan you take out in order to pay off your smaller loan. This helps eliminate accounts that have been delinquent for a long time and helps control runaway interest rates. One do-it-yourself method is to get a personal loan from a service like Lending Club and use the cash to pay off some of your debts.

The key is to reduce as much debt as you can while still allowing yourself some liquid assets for emergencies. Credit card debt tends to boil over on the backburner if you don’t attack it diligently and directly. Find out where you stand, make a plan and follow through and you’ll be in a better position to get out of debt.