[header] How to work out a repayment plan [title] Formulate a budget. [step] In its simplest terms, a budget is just a record of how much income you have vs. how many expenses you have. A good budget will track all of your sources of income (e.g., main paycheck, child support, side jobs, etc. 
) as well as your regular spending (e.g., bills, food, clothing, etc. ) [title] Contact your creditor as soon as possible.