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The burden of overwhelming debt problems can be paralyzing. It brings a lot of negative implications in your life. Your credit situation can really hold you backif you do not do something about it. And that is not just in terms of your finances. Do not think that the effect of your debt will only be on your finances. It can be strong enough to affect even your relationships. It can destroy your marriage and the trust that you have with your partner or spouse. It can also cause you to negatively influence your kids. The stress that you feel can resonate in the way you treat your children. Debt can also affect your health. Stress can lead to a lot of health problems that includes heart ailments. It can affect the way you work - which can hinder you from growing in your career. These are only some of the things that overwhelming debt problems can do to your life. According to Time.com, the average household debt in the country today goes beyond $130,000. That is more than twice the average annual income of a family. This debt is a combination of mortgage loans, credit card debts, student loans, and even car loans. The $130,000 debt is actually costing households at least $6,600 in interest every year. That is a lot of money to waste! Not matter how hard you work, it is your creditors and lenders who are getting rich - not you! If you did not waste that amount of interest, you can use that money to invest in your retirement. Or it can even be saved as part of your down payment for a new house. Obviously, you need to learn how to solve your debt problems before you can hope to improve your financial situation. But what can you do if your debt has grown to unmanageable proportions?