Paul's advice to us is to owe nothing but love. In Romans 13:8 is an indication that God doesn’t want us to live a debt ridden life. For very good reasons, overpowering debt keeps us chained; debt creates discord in our marriages; all our attention is focused on debt when we should be focussing on God, looking to Him for the answers. Trusting Him to be our true source, this becomes more important, crucial in fact in these times where companies are closing down left, right and centre all around us. Are you in a position where you can't see any light in the tunnel, either from the side you came in or going to get out.
Try the following steps:
Sincere prayer works, seek God's guidance, wait upon Him. Pray the solution, not the problem; I know it is a cliché, but try it. After praying the solution believe it, and affirm it; stop saying and thinking “I don’t know how, what, where or when” If you really need to sprout “I don’t know” then qualify it with “I don’t know how, but I do know “God will supply all my needs according to his riches in glory”.
Philippians 4:19 (King James Version)
But my God shall supply all your need according to his riches in glory by Christ Jesus.
"And at midnight Paul and Silas prayed, and sang praises unto God: And the prisoners heard them."
"And suddenly there was a great earthquake, so that the foundations of the prison were shaken: and immediately all the doors were opened and everyone's bands were loosed."
Just as God freed Paul and Silas from a physical prison, through your praise and worship He can free you from your prison of debt. Though you might not feel like praising God, do you think Paul and Silas relied on their emotions, or their faith?
Pay your tithes
Malachi 3:10 (New International Version)
"Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this," says the LORD Almighty, "and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it."
Yes Doc, whether you believe it or not is not important, what is important is Gods promise, and it is the only place in the bible where God actually tells you to test Him: “Test me in this," says the LORD Almighty, "and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it.”
Often our tithe is the last thing we pay; make it the first thing you pay, and give it with love.
Should the above be not exactly what you were looking for, try debt consolidation.
Debt consolidation is basically getting deeper into debt, by paying one account, instead of a lot of smaller ones. The one company takes care of your payments.
Is to me a better option. Phone the credit managers and reschedule your payments. Try paying higher amounts on the smaller debts to clear them up quicker; as you clear one, then increase your payments on the next smallest.
Debt negotiation is something you may need to do if you cannot make your payments on your debts. Do not think that nobody will notice if you miss a payment? Do you need to reduce the payments and take longer to pay off the loan? Or do you need a payment break this month, so you do not pay at all? This option can be good if your problem is temporary, but it is only advisable if you are sure you will be able to pay in future months; or if you are using the gap to get rid of another debt.
Usually the company is happy to negotiate with you. Check it carefully, and then make sure that you make the payments on time.