Q: What is the best way to start paying off huge credit card and payday loans?

A: Here are a few tips for paying those payday loans and credit cards:

– Tackle those payday loans first. Sounds like you may have “rolled over” many loans … they usually average about 400% on an annual basis, so it’s important to not let them keeping riding, month after month. Otherwise, they’ll put you in the poorhouse.

– Read my advice on alternatives to payday loans when you’re strapped for cash:

– Also, see my tips on how to get rid of payday loans.

– Regarding the credit card debt, do negotiate, as I’ve suggested on my AARP article and during the Pay Down Your Debt Challenge.

– Request lower interest rates. Use these 14 strategies when negotiating with your creditors.

And finally, focus on the problem areas that are bothering you? Are you most troubled by high interest rates?

Then attack the cards with the highest APR. Do you have too many big balances?

Then focus first on the credit accounts with large dollar balances.

Are you frustrated simply by having too many accounts, then go after the cards with the lowest dollar balances first to eliminate cards/accounts quickly.

Whatever you do, don’t give in to despair. I know it’s tough dealing with debt. But it’s not the end of the world.

Even if you wind up in bankruptcy (a last resort, that would wipe out your credit card bills and payday loans), you can recover.

Good luck!