Creating a Budget for Handling Credit Card Debt No one likes to be in debt. This is a lot of money that you have to pay back to someone else, usually at a really high rate, and it can take years to get it all handled. It is not only expensive and time-consuming, but it can slow you down when it comes to some of your other financial goals as well. But it is so easy to fall into debt, and so hard to get out of it. Once you make up your mind...