Loans are tricky business. If you don’t manage your income and debt payments right, chances are high that you would end up in some trouble. But, there is actually nothing wrong with this situation. The economy is undergoing through some problems, and a lot of fields are changing. This means that people have lost their earning power, but they are still required to spend a lot of money. If you are in debt and you feel like it has spun out of control, you should remember that it could have happened to any body.
Acceptance is the first step towards figuring out a solution for your debt problems. You need to accept that you are in trouble, so that you can start coming up with a solution. Do not keep the debt situation a secret from those closest to you- they are the ones who are most likely to help you get through this complicated time. This would not be a bad time for you to seek professional help either- this would help solve your financial and emotional problems.
A lot of people do not seek help when they realize they are in deep debt, and this traps them in a never-ending cycle of more borrowings and increasing debt. Do not let that happen to you- you are still in charge of your life, and you can certainly take all of that back.