To create a realistic debt repayment plan, follow these steps:

1. Assess Your Debt: Start by gathering all your debt information, including the total amount owed, interest rates, and minimum monthly payments.

2. Set Clear Goals: Determine how much you can realistically afford to pay each month and set a target for when you want to be debt-free.

3. Prioritize High-Interest Debts: Focus on paying off high-interest debts first to minimize the amount of interest you'll ultimately pay.

4. Consider Debt Consolidation: If you have multiple high-interest debts, consider consolidating them into a single, lower-interest loan.

5. Create a Budget: Track your income and expenses to identify areas where you can cut back and allocate more funds toward debt repayment.

6. Negotiate with Creditors: Reach out to your creditors to see if you can negotiate lower interest rates or more favorable repayment terms.

7. Explore Additional Income Sources: Consider taking on a part-time job or selling unused items to generate extra income to put toward your debt.

8. Monitor Your Progress: Regularly review your debt repayment plan to ensure you're on track to meet your goals.

By following these steps, you can create a realistic debt repayment plan that aligns with your financial situation and helps you become debt-free sooner.

References:

• For more information on debt repayment strategies, visit Debt.org.
• The Consumer Financial Protection Bureau offers helpful resources on managing debt at consumerfinance.gov.