Do it yourself credit card debt management

Impossible, you say? Not so. The first step is to admit you have problem and act: Cut up your credit cards, shred them and decouple the account numbers from any automated online buying sites, like Amazon.com. Then sit down, create a budget, and figure out where the payoff money is coming from to eliminate credit card debt.

I recommend: Debt management starts with spending management tools, such as the "instant budget" page at CNNMoney, which allows you to compare your spending against national averages, adjusted for income. Mvelopes hooks to your online bank account and automatically tracks spending. Quicken has long been the gold standard for personal budget planning.

No discipline? Get credit counseling

Part of the reason people get into financial trouble is because they don't have the power over their own purse in the first place. Credit counseling can help, and there are plenty of financial planners and non-profit credit counseling experts who make it their business to teach financial basics like credit card debt management. Debt management plans, which require regular payments and are not free, should be considered as a last resort.

I recommend: Find a certified financial planner through the Financial Planning Association web site. The National Foundation for Credit Counseling's DebtAdvice.org can help locate a local credit counselor, as can the Association of Independent Credit Counseling Agencies. The Federal Trade Commission has a good checklist when considering a debt management plan.

Good credit means debt consolidation could be the way

There is no reason to pay a credit counseling service to help you secure a debt consolidation loan to eliminate credit card debt. If you have a good credit record and especially if you own your home, a debt consolidation loan from your own bank is no harder than borrowing for a new car or vacation.

I recommend: Compare lenders and rates for a debt consolidation loan at LendingTree or E-Loan first. Bankrate has a debt pay-down advisor than can help you decide whether a loan or just paying more each month makes the most sense.

Watch out for credit card debt management scams

One of the toughest situations for people who have issues with credit card debt management is making the right choices. This can be harder still when there are so many websites promising debt management but with tons of fine print and fees. Learn to be a better consumer: Any crazy offer to cut or reduce your debt without pain is highly unlikely to be true.

I recommend: Check out any debt management or "credit repair" offer with the Better Business Bureau first. Under new federal bankruptcy rules, too, you have to get six months of credit counseling for an approved agency first. See the U.S. Department of Justice for a state-by-state list of approved credit counseling providers.