+1
I would say that step #1 is to realize and acknowledge your problem.
What's the source of the debt? Are you living beyond your means? What adjustments can you make so that your income exceeds your expenses in a way that will allow you to pay down your debt and start saving?
I realize and acknowledge my problem. Step #1 checked!
The source of the debt is from a business that ran into the ground. Instead of firing/laying off everyone I took on debt and slowly allowed people to move into other companies. I feel good about this choice to date. At the same time, and perhaps related, I found out my wife was cheating on me and my marriage was falling apart/over. It was a hard time. Through this, I incurred extra expenses like paying for two houses etc etc So, yes I've got plenty of excuses of the why. These have been addressed and I've emotionally been able to move on and grow from them. My expenses are I think as low as possible currently. I live in a mid sized city (Charlotte, NC) and rent in a pretty old townhouse (1200/mo for 2 beds) with my 2 kids and drive a 2007 Honda Element (paid for). I spend minimally on food and other kinds of extra things. I have a bike and enjoy riding this around, so cheap exercise
So short answer my income far exceeds my expenses currently and am paying off this debt as we speak. I guess my question was as I pay it off, is there a more efficient way to do so as my Amex card just expired from the free promo trial period. Would it make sense to put all the cards into one account or continue as is with this as I put it shell game.
Thanks for your reading and understanding here.