While that debt may actually give you a headache, and may seem impossible to manage at first glance, there are ways to make it manageable -- and prepare yourself for next year so it doesn’t happen again.
"People typically have five to 10 credit cards. You want to get the highest interest debt paid off first," said Kenneth J. Kriebel, an advisor with Ameriprise Financial Services in Bechtelsville. "The idea is to get the debt paid down as quickly as possible, even if it hurts a little."
If you have several credit cards, which normally carry interest rates from 12 to 24 percent, it’s best to pay off the high-interest cards first, and to consider cards without annual fees, Kriebel said.
