In my opinion, it is not a big deal if you have the ability to make money. Lots of people have the ability of making 5 digits per month, but not all is totally debt free. I have this mentality that I would find the balance of the money I have versus the debt I owe if I use my credit cards. Don’t you forget that home loans and car loans are part of your debts as well. Most of my friends are ended up in negative value as they are too tied up with loans, even if their husbands are making 5 figures per month.

Thus, if you would like to be debt free faster, get debt consolidation. Most of the time, it will be easier to pay them off if you receive some forms of debt help to consolidate your debts. But if you really cannot make it through, you can think about IVA, which is not the same as bankruptcy.

However, besides working on the debts, take a look at your spending habit too. Do you really need that fancy car of yours?