The other day I got an email from a reader asking "Come on, how can your debt calculator help me get out of debt? It just makes me feel bad to see how much I owe."

OK, I can certainly understand that type of feeling. Nobody wants to know just how bad their financial situation really is, especially if there is no easy way to fix it. There's nothing noble about admitting you have lots of debt.

So I thought about coming up with a nice way to tell her "If knowing how much debt you have makes you feel bad, then you need to face up to the reality of your situation!"

I didn't want to be mean about it. But the hardest thing - and by far most important thing - you can do when you have too much debt is to know EXACTLY where you stand. Nothing good happens when you pretend your situation is not that bad. And nothing good comes from closing your eyes and ignoring the truth.

Sure, the truth hurts. And it hurts a lot.

So?

Maybe that will help you open your eyes and do what needs to be done to fix the problem!

If you only have a little bit of debt, and just want to see where you stand, that's fine. But if you're in way over your head, and you're losing sleep because of your credit card bills, then it's time to wake up!

So here are the 3 most important pieces of information you can get from a credit card debt calculator:

1. You'll learn how long it will take you to get out of debt.
   Will it be shocking when you learn it will take you 13, or 2, or 54 years to pay off your credit card bills? OF COURSE!!! But without this type of shock, some people would keep charging until their cards blew up. Well, that's a little dramatic. But they'd certainly keep charging until they are all maxed out & they can't get any more. So better to learn the honest truth as soon as possible.

2. You'll learn how many bills & how much debt you really have.
   You can't fix a problem unless you know how big the problem really is. And you can't understand how much you need help until you see it written down in front of you. So grab all of your credit card bills, all of your other monthly bills that you're behind on paying, and write down a list on a piece of paper. Forget the computer, writing it down makes it even more meaningful. List the amounts you owe, the minimum payments, and the interest rates. Then...

3. You'll learn the importance of coming up with a plan & sticking with it.
   Here is the MOST IMPORTANT thing you'll learn - how to fix the problem. You have a few choices here. You can do it yourself, using debt snowball or debt avalanche. You can borrow money from a relative. Or you can get professional debt relief help. It doesn't matter which solution you choose. Just DO SOMETHING! Come up with a plan. And start doing it right away.

Time is your biggest enemy when it comes to debt. The longer you've been in debt, the longer it will take you to get out. The longer wait to get started, the longer it will take you to get out.

So use this information to change your financial path in life. Once you've started to take control, and start working on your plan, you'll start feeling a lot better!

See how long it will take you to get out of debt:

If you've been looking for help getting out of debt then you've heard the ads for debt settlement:

• "Get out of debt in 3-6 months"

• "Save 40-60% on your credit card bills"

• "Avoid bankruptcy and improve your credit score"

All of the above statements contain some truth - and some non-truths. So the key is to figure out which is which. If you're looking for information on this controversial debt relief option, here are 3 people you should NEVER listen to when seeking advice on debt settlement:

1) Anyone who works for a debt settlement company.
When you pick up and call a debt settlement company you should be doing it for only one reason - to get information about the company. You should NEVER call up a company offering the service and ask them for advice on your situation. Why not? Because these people are NOT trained debt counselors who are trying to help you find the best solution to your financial problems. No matter how nice or helpful they seem to be, they are trying to get you to sign up for their solution. Now, signing up with their company and using their service may be right for you. But only after you've done a little comparison shopping to compare a few different options.

2) The "experts".
I know, this doesn't sound right. The experts should be the very people you should listen to, right? In some cases that is correct. But not when it comes to debt settlement. Most experts have no idea how debt settlement can help people in the right situation. And most speak very negatively about this option. Sure, there are many companies out there that are not much more than "Scams" and the experts are right when they tell you to avoid them. But some are very reliable companies, and sometimes settling your debt is the right solution. Unfortunately, the experts usually don't tell you what the right situation is!

3) Your friends & relatives.
There are lots of subjects I like to talk about with my friends. But my financial situation is not one of them. Maybe that's just my personal preference. But unless your friends or relatives have gone through some financial troubles, and dealt with credit card debt, DON'T ask them for their advice and DON'T tell them you need help. Not that they won't try to give you the right advice. But sometimes it is very tempting to listen to Uncle Joe or Cousin Mary and think they are telling you what you need to know. Most of the time it's much better to get advice from someone who is not so close to you.

So who should you listen to for debt settlement advice?

First, listen to those who have gone through it!

There's no better way to learn about how the process works than to get advice from someone who has used this option. Debt settlement is not something that everyone knows about (including many of the "experts" from above). It's a very specific option for a very specific type of financial situation. So listening to people who have settled their debts is a good idea.

Go to Google.com and type in "debt settlement forums" and visit a few of the personal finance discussion forums. You'll read about people who have had good experiences. And you'll read about those who had bad experiences.

Then if you have any questions you can join the forum and ask away. Take a few notes about which companies are the best, and what types of financial problems are most similar to yours.

Second, listen to your own instincts. Shop around and call 2-3 debt settlement companies and ask them lots of questions...read through their websites...get a copy of their service agreements and read through it carefully. You'll get a sense of how the process works, and which debt settlement companies are trying to help you - and which ones just want you to sign up as quickly as possible.

Struggling to pay your credit card bills is difficult enough. Settling your credit card debts can be even that much more stressful! So make sure you "do your homework" and find out as much information as you can.

Who is the best candidate for debt settlement? If you fit one or more of the situations below, then you should probably check out debt settlement as an option for getting out of debt:

• If you cannot pay your bills any longer.

• If you are more than 30 days behind in your payments.

• If you've had a financial emergency (like losing your job).

• If you're seriously considering bankruptcy

So, have you had any good or bad experiences with a debt settlement program? Have you learned any tips for getting out of debt? Or do you have any questions (I've used debt settlement so I fit into the first category above)? Use the comment section below to post your questions or comments.

Cutting back on your spending and lowering the amount of debts that you hold is difficult for someone who wants fewer bills to pay. Debt consolidation plans and debt relief methods are many and have a lot of benefits and to make sure your plans work, you must take care of the following: make sure to come out of debt in three to five years maximum, read through all the documents to well verse yourself with the terms and conditions of your loans and don’t go for offers that seem too good to be true!

If you believe that your finances have really gone down the drain, try to make use of a reliable non-profit credit counseling agency that can give you advice and negotiate with your creditors on your behalf.

If you have other expensive debts to pay then what you can do is to refinance your home mortgage loan and use the additional cash you can borrow to pay these expensive debts off. You can even consider taking out a home equity line of credit or a fixed rate home equity loan. The pros and cons of this option are listed below.

1). It is possible to have the interest on home loans deducted while that is not possible with credit card debts.

2). You can save more money by shopping carefully and getting a good deal on closing costs and interest rates.

3). Typical credit card bills have double digit interest rates, and you can lower them just by switching debts to a home equity loan.

1). Extending the length of time you’ll be in debt could mean that you are paying more money over the long run.

2). A variable loan rate means that if your interest rate could go down, it could also go up as well, so be prepared.

3). Knowing that you are capable of stopping your habit of over-spending and are capable of paying off the debts is extremely important as well, so if you can't control spending, a loan won't help much.

(My additional "con": If you can't make your payments you risk losing your house, so consider this option carefully!)

Another crucial tip is that the money you get from refinancing or from tax refunds should be used to create an emergency fund, the basic purpose of which will be to use as a prepayment against your home loan or to boost your retirement savings. Or in case of a financial emergency such as an unexpected car repair.

A great option that credit card holders have is that they can consolidate their debts by calling their credit card issuers and asking them to give you a better deal. These lenders do know that getting consumers who pay their bills on time is pretty tough and they are often willing to oblige you. Don’t forget to ask them about getting an annual fee waived or lowering the interest rate on new purchases or getting special rates on any new balances you transfer to their cards.

For your lender to give you assistance, it is imperative to be making all payments of your bills regularly in order to establish a reputation of reliability. Another important tip is to plow all of your savings back into your debts and save your credit card score by avoiding applying for too many cards at the same time.

This is a guest post by Richard Jacobs, who has been a chief editor since early 2007, and he currently works for MyDUIattorney. A website that helps you to find the right DUI lawyer. You can search for a New Jersey DUI Attorney or for a Los Angeles DUI Lawyer online, anytime!