By now you may realize that you are in BIG debt. Not only do you have monthly expenses, you may also have Borrowed Money from friends or by using credit cards that you need to pay back. In most cases, you are paying interest on that money and that means that even if you don't borrow any more, the amount you owe gets bigger every month. CALL YOUR CREDITORS,  those people or companies to whom you owe money, and tell them that you are in money trouble and you need some time to work out a repayment plan. You may hope that if you just ignore the debt, it will go away. It won't, and it makes creditors MAD when you hide from them. If you have school loans, call the loan holder and tell them your circumstances. They will help you make a plan that you can afford, based on your current income. If you don't call them, your credit will be ruined until you deal with the problem, and you may not even be able to rent an apartment in your name.

If you have never phoned creditors, you may think that you don’t know what to say to them. Find and call the “Customer Service” phone number that is listed on nearly every bill. Tell the person who answers your name and the account number, and they will ask you the questions that you need to answer. If you are afraid to do this, why don’t you ask a trusted friend or relative to role play the phone call with you? You might feel more comfortable if you first practice the call.

People in financial crisis do have some rights under the Fair Debt Collections Protection Act. Bill collectors can not use threats of violence or harm, use obscene language, contact you before 8 AM or after 9 PM, unless you agree, or call you at work if they know your employer disapproves. If you write them a letter telling them not to contact you, they can only call once more.

Once you have communicated with your creditors, go to Step Eight.