Stopping the accumulation of new debt is the first step. As U.S. Bank advises, avoid taking on more loans or credit while paying off balances. If you feel tempted to swipe your credit card or borrow more, pause and ask: Is this purchase essential? Adding new debt only increases interest and delays your goals. Instead, focus all available cash on existing obligations. Even as you organize your repayment plan, always make at least the minimum payment on each account on time. Missing payments quickly adds fees and interest, and can damage your credit. With no new debts added, you can better tackle what you already owe.
· Freeze or stop using credit cards and new loans
· Review upcoming planned purchases – delay nonessentials
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