 TITLE: How Do I Find Out What Debts I Owe? CONTENT: How to Pay Your Debts After Finding Them\n----------------------------------------\nSo, once you've pinpointed what debts you owe, what's next? It's time to pay them off. Here are four steps you can take to make that happen:\n1.  Create a list of all your debts. This includes credit cards, student loans, personal loans and car loans. With each debt, be sure to highlight who you owe, the amount you owe, the interest rate and the minimum monthly payment.\n2.  Prioritize your debts. As you're reviewing the list of debts, consider paying off the highest-interest debt before any other debt.\n3.  Set up a budget. To put together a budget, go over your monthly income and expenses, then match them with your financial goals (like paying off your debts within a year, for example). Once your budget is in place, stick to it by closely monitoring your income and expenses. Don't be afraid to adjust your budget if it isn't working for you, or you find it impossible to stick to.\n4.  Pick a payoff method. There are two common methods to choose from: The debt avalanche method wipes out the highest-interest debt first, then the next-highest-interest debt and so on, and the debt snowball method focuses on the smallest debt first before moving on to other debt. These methods are particularly helpful with credit card debt, when it may be difficult to know where to start. Because paying off a mortgage in a year or even five is probably unlikely, you can limit your payoff strategy to debts you can reasonably expect to pay off over a shorter time period. END