How to clear your credit cards

The first thing you'll need to do is to dig out any paperwork that will help you to work out what you're spending, when. This might take a little time but it's essential if you want to get a grip on where your money is going.

You'll need to find:

• Bank statements
• Wage slips
• Credit card statements
• Phone bills (landline and mobile)
• Utility bills (gas, electricity, water, broadband)
• Rent/mortgage statements
• Loan statements
• Council tax
• TV licence
• Debt repayments
• All insurance documents including home, mortgage, life, travel, health, motorbike, car, credit cards, pets, professional indemnity etc.
• National insurance (if self-employed)

Once it's all in one place, put it in a file; it's useful to have these documents to hand for applications or if you're asked to prove your identity anyway.