It's now a top priority for UK consumers to actively reduce the debt they hold on credit cards. The trend over the last few years was all about living for now, buying much on borrowed money. We now see a shift from borrowing to debt reduction.

So, how do you reduce your debts efficiently, especially anyone stuck with credit cards beyond their credit limits? Many people don't realise that paying the minimum amount each month only covers the interest on the debt and makes no inroads to the debt itself. Should you be late or miss a payment you will quickly see your debts increase. The UK debt pile has topped a trillion pounds so you're not alone if you have a mountain of debt that you need to clear.  

Follow these 8 tips and you could completely remove your debt burden.

Tip 1
Keep a record of your spending and reduce all unnecessary purchases, ask yourself if you really need it.

Tip 2
Take a close look at your last 3 months worth of credit card statements and make a note of all purchased which were unnecessary, put an end to all purchases which are not required.

Tip 3
Try and transfer as much of your debt as possible onto a zero % credit card. This way any money you pay towards your debt will eat into and reduce your borrowings.

Tip 4
If you cannot move all of your debts onto a 0% credit card start by paying off the remaining cards with the highest rate of interest.

Tip 5
Stop using your credit card altogether for new purchases so you can see the debt reduce month on month.

Tip 6
Take extra steps to reduce household costs. Save money by cutting back on other purchases to give you extra money each month to pay into your credit cards.

Tip 7
As you pay off each credit card cancel the agreement to avoid the future temptation. Retain on credit card but only use in emergency situations or when you are abroad. Whatever you spend clear the balance within the 30 day limit to avoid any unnecessary interest charges.

Tip 8
Finally, if the credit card debt is just too much of a burden on your finances and you need another solution you still have the option of a debt consolidation loan. This is where you borrow money from a provider and pay off all of the credit card debt at once. The benefits being you have one monthly payment and a controlled repayment plan to clear off the debts. The drawback is that in many cases these loans are secured on your property and failure to keep up payments could mean you are putting your home at risk.