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How to dig your way out of debt

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ATLANTA -

April is Financial Literacy Month, so there's no better time than now to talk about how to dig yourself out of debt.  FOX 5 I-Team reporter Dana Fowle has some sure-fire ways to get financially fit.

Tax Day was just last week, so your financial records should still be close at hand.  Don't put them away yet.  Instead, use this time of year to assess your personal finances to make changes, and while you're at it, make it an annual event.

The Better Business Bureau offers these great ideas on how to dig out of debt:

1.  Review financial history -  Many credit cards will break down your spending.  Figure out your trouble spot.

2.  Put away plastic – Stop living on your credit cards.  This will go a very long way in getting debt-free.  

3.  Call your creditors – If you get in a jam, call your creditors before you skip payments.  They'll work with you.  Don't wait until you're already in big trouble.  They might be less sympathetic if you wait too late.  

4.  See a credit counselor – Just be careful who you pick.  The BBB recommends the local, not-for-profit group CredAbility.  Click here for a link to their website.   The BBB says if any group makes you promises about cleaning up your credit quickly for a fee, turn it down and leave.  There is no quick fix.  

Atlanta Better Business Bureau spokesperson Fred Elsberry says you can start paying that debt off one credit card at a time.  Once you've paid one down, then you can move onto the next.

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