7. Create a list of business supplies or equipment you'll need in future. Purchase supplies only when they go on sale.

8. Buy used business equipment and supplies. You can find used items at garage sales, yard sales, used stores, classified ads, message boards, etc.

9. Try to negotiate a lower price for business supplies, services or equipment. Don't be afraid to try, you'll be surprised how many businesses give in.

10. Always be searching for new suppliers for your business supplies, services and equipment. Look for suppliers with lower prices and better quality.

Third, Go to a credit counselor or debt consolidator. Consumer Credit Counseling or Debt Counselors of America are reputable agencies in this line of work. The main benefit here is that if you sign an agreement with a credit counselor, quite often your creditors will agree to lower your interest rates and even forego your late fees, something they would never do if you asked on your own. Also, 98% of your creditors will stop reporting you as late or delinquent to credit reporting agencies. This type of agreement will typically freeze your accounts until paid in full, but if you're really trying to get out of debt then you shouldn't be using your credit cards anyway, right?

Finally, Do NOT declare bankruptcy. Sometimes things can get so bad that declaring bankruptcy may seem like only answer. It isn't, and it will only cause you more trouble. Bankruptcy can eliminate your debt, yes, but it also completely ruins your credit rating for next ten years. If you are dreaming of starting a business, forget it. No one will finance you for anything, not even a gas card, with a bankruptcy on your record.

So remember. Keep a working budget, this is basic key to getting out of debt, and other tips won't work without it. Pay off your credit cards, and stop losing your money to interest. If necessary go to a debt counselor, but never, I repeat never, declare bankruptcy. There's money to be made out there if you just know how to do it.