<prompt> Human: First off I just want to thank everyone in rpersonalfinance who take the time to read posts and provide fair and earnest responses to the questions posted here. Many of the posts here helped me turn my life around. When I turned 18 I aged out of foster care and my once loving home was not as welcoming now that they werent receiving money for me. I spent the next year homeless until I found out about this site. After a long time I finally have a roof over my head and a steady job. Now that I am starting to get a better grasp on life I am finally able to make an effort into managing a debt I incurred. I wont go into too much detail but the debt is 6,000 worth to Williams Fudge, INC. I am completely fine with setting up a payment plan and paying the debt in full. Its just that I dont know how to go about doing that. Or what type of things are important to have included into the payment plan. Any advice is greatly accepted.  <response>: I note that this sub has a debt wiki which may be of some help. Dont sign anything you dont understand. Your phone calls are recorded. Dont agree to anything verbally you dont fully understand. Pay attention to your interest rate. The balance you owe is not what hurts you, its the interest youre paying. By way of example, if BF is charging you 2 per month on the debt, compounded monthly, thats 26.8 per year youre paying just in interest -- or 1680 per year. Another example: lets say you get a letter in the mail from a credit card company offering you an introductory 6-month rate of 5.5 on cash advances and after that it goes up to 18.5. If the rate WF is charging you is currently over that 18.5, then obviously switch it over or switch over part of it. But if the rate WF is charging you is less than 18.5, then you might want to think twice. 