Stop spending

Cut up your card, hide it, or give it to a friend - do whatever you need to stop spending. Then, draw up a budget.

Use a balance transfer

Many banks offer interest-free balance transfers when you switch to a new credit card - this will buy you time to pay off debt. Just make sure you check the card's rate once the interest-free period finishes, as this can be high. And remember, while your existing debt won't incur interest at first, purchases will.

Move it to your mortgage

Consider rolling your credit card debt into your mortgage, which will normally have a lower interest rate, decreasing your card repayments.

Consider consolidating

Finance companies can consolidate multiple debts into a single, low-rate loan. They can also formulate a government-administered debt agreement, which will force creditors to stop charging interest until you pay off your debt.