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.

Here are a few great sources of OTM:

1) If you want to get training and/or money to start your own business, millions of dollars are available at www.sba.com. They'll also show you how to find alternative sources of financing, how to protect your invention, how to sell your idea, how to license your product, how to write legal contracts, how to sell overseas, and how to buy business equipment.

2) If you want money to export and sell products to foreign countries, you can obtain it from Export-Import Bank of United States at www.exim.gov. Or you can go to The Overseas Private Investment Corporation (OPIC) at www.opic.gov.

3) If you want to obtain government contracts, then access Procurement Assistance Offices online. Here, you'll learn how to draw up a business plan that'll get your business noticed. They can match product or service you're selling with appropriate agency, and then help you market to them more effectively. You can find these programs at www.dla.mil.

4) If you need venture capital for a new or existing business, then you need to go online and access Small Business Investment Company (SBIC). These are privately-organized and privately-managed investment firms that are licensed by Small Business Administration (SBA). With their own capital and with funds borrowed at favorable rates through federal government, SBICs provide venture capital to small independent businesses, both new and established. You can access them at www.sba.gov/INV.

5) If you need free help or want to learn how to do your own personal or business taxes? All you have to do is access www.irs.ustreas.gov/prod/bus_info-bus_help.html.

You can also obtain a free 26-page book on Internet called The Credit Process: A Guide for Small Business Owners. It's written for small business owners seeking financing for first time. It covers sources and types of financing; funding resources; preparation of a business plan; preparation of loan applications; and action to take if a loan is denied. It also contains an especially useful and comprehensive glossary of finance terms, agencies, and fair lending regulations.