Have you ever been in a position where your credit card interest rates are pulling you under? High interest rates on credit cards can definitely put you in a "no-win" situation. I have an "alternate solution" that might benefit and help you and/or your family. First off, you will have to take a reality check and do the following:

• Sit down and blueprint an action plan. List all your monthly incomes, living expenses, and all current debts. For each debts listed, decide on what is the maximum you can pay each month, and stick to it.

• Do not put anything on credit or take out another loan. Stay away from home equity loans. Consolidating all your debts into one lower interest bearing debt might be great, but this will lead you to start "charging" again! Don't do it.

• Close all your credit card accounts and return or destroy the credit cards on hand.

• Sit down and write a letter to all of your creditors. Ask to negotiate lower payments or to extend the length of the loan. Most inportant of all, make sure to summerize what you and your creditors have agreed on, in writing.

• Seek outside help. If your creditors are closing in on you, you may need an agency to help you negotiate your way through your debts. When looking for outside help, choose a nonprofit agency, one that charges little or nothing to help you get out of debt.

I have found a source that might be worth looking into. Not too many people know that this source exist. The source is called Consumer Credit Counseling Services (CCCS). The CCCS receives funding from voluntary contributions from creditors who participate in Debt Management Plans. These contributions are usually calculated as a percentage of payments you make through your debt payment plan - up to 15% of each payment received. However, your accounts with your creditors will always be credited with 100% of the amount you pay through the CCCS and they will work will all of your creditors regardless of whether they contribute to the CCCS. For more information on these services, call 1-800-642-2227.

IMPORTANT: If you choose to resume control of your own accounts and do not repay your debt through CCCS, they WILL NOT be able to help you reestablish your credit.

In Arizona, the source is CCS Southwest. They charge a fee based on the amount of finance charges they save you. The fee is considered part of your monthly deposit. Thus helps to offsets the costs of printing, postage and handling. If you miss a deposit, CCCS does expect you to make up missed fees.

During your participation in the program, if you miss a deposit, creditors may start charging you finance charges again. CCCS will close your account if you miss two consecutive deposits. You may re-open your plan following a counseling appointment to determine if the plan will work for you or if bankruptcy is a better option.

It is very important to remember that the Debt Mamagement Plan does not interfere with your contractual obligation with your creditors. Your are still liable, no matter what.

The Consumer Credit Counseling Services Southwest can be reached at 1-800-308-2227. You can also find them on the Internet by going to Consumer Credit Counseling Services Southwest.

To sum things up:

You are the only one who can get yourself out of debt. If you are serious about getting out of debt, you will succeed. There will be difficulties adjusting to a new budget and unexpected expenses that will pop-up. It is up to you to make getting out of debt your top priority and make the other tough choices that will keep you on track.

It will not be quick or easy, but it will be rewarding. Most people slip into debt a little at a time and must work themselves out the same way. You can look forward to each month bringing you a little closer to your goal as you watch your debt level drop.