Suggestions/Tips for Getting Out of Debt?

$20k isn’t that bad unless you have a small income. Speaking of, what’s your income? Could you provide a breakdown of your expenses?

Can you borrow against your house or 401(k) if the interest rate is high enough and you can't get financing.

Do you have a nice car thats paid off? You could sell it and drive a POS.

Need to know the interest rate, im guessing high as shite. You're first priority is to get it to a more manageable interest rate.

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Spend less on other things, earn more money, put the extra money toward debt, getting a lower interest rate will mathematically save some money, but will probably have the least effect on your success. This is really the only way out, everything else is just dancing around the issue

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Yep. Reduce your expenses where you can. Get a roommate, live at home, improve your vehicle situation are all steps to consider. $20k isn't very much and can be achieved quickly with the right attitude. At least you're inquiring about it, but focus on your monthly cashflow.

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Can you borrow against your house or 401(k) if the interest rate is high enough and you can't get financing.

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Terrible idea, especially in today's market with his 401(k). He could lose his job tomorrow and that money then becomes due.

Sell things. Reduce expenses. No going out with friends. Pick up extra income. Jobs are plentiful. It may not be what he wants to do, but if he's really serious about getting out of debt, he'll do what is necessary instead of what "feels" good.

Definitely look at the vehicle issues: if you're driving a gas guzzling truck and have a long commute, you're pissing away your hard earned money. Sell it, buy a used Camry or Civic or Yaris and stop spending so much on gas, insurance, etc. Way too many people stay tied to a vehicle they can't afford instead of realizing they've made a mistake, selling/trading, and getting into a more suitable, affordable vehicle.

Get rid of as many recurring, monthly expenses as you can. That means cable, high speed internet (use the public library's internet, or offer a neighbor with a wireless network some cash to use their signal), reduce your cell phone plan, cancel Netflix, TiVo, Apple Music, gym membership or any other thing that you're paying every month.

Learn to enjoy free things. Parks, walking/running trails, public libraries: already funded by your tax dollars. Go use the stuff you've already paid for. Library's electronic collections offer music, TV, movies, graphic novels, etc. Local publications list tons of free things going on in larger communities...rural areas offer their own free delights (fishing, hiking, gardening).

Stop eating out. Pack your own lunch. $10 in groceries should cover lunch for 5 days, easily. If you can't figure out how to make your grocery dollars stretch, or you don't know how to cook, download this free awesome cookbook by Leann Brown: Good and Cheap: How to Eat Well on $4/Day. LINK

Figure out why you're overspending...is it tied to overdrinking or other substances? Address that, too, or you're just pretending that this is a money problem.

if you aren't changing jobs, have a good job, make good money and can pay for things with cash moving forward, just default on them.

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I’m looking for any advice on creating a plan for getting out of debt. I do realize solutions can be very situational and far from one size fits all.

Roughly $20k in unsecured debt and obviously growing through interest (not through more spending) difficult but doable to make min monthly payments, which ik will never help in getting out of debt. Single/ late 20’s, just 3 yrs ago had zero debt and credit score of 770. Through circumstances outside of my control mixed with some very much in my control that changed and it’s time to right the ship. Just looking to gain more perspective ane ideas from those who may have experienced the same or work in a related field dealing with this. I mention the score being very low now to state that getting a large consolidation loan could be very difficult, but would tremendously boost my score opening up that avail credit.

Love my job/company and already have side hustle. So not changing jobs but feel free to mention any other side earning solutions.

Bankruptcy?
Consolidation loan (if able to qualify)?
Stop paying in favor of settling on lower amounts, but miss payments in process?
Credit counseling service?
Maybe local hard money lenders who would structure a note?

Look forward to hearing some constructive responses!

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There are two things you said that are concerning, IMO.

1.) difficult but doable to make min monthly payments

If you are having trouble making the minimum payments already, then it sounds like your income is pretty low. Please give some sort of breakdown of how much you have remaining after you pay for essentials. Then list the essentials and how much you are paying. Either you don't make enough money, or more likely, your definition of essentials is not what it needs to be.

2.) I mention the score being very low now to state that getting a large consolidation loan could be very difficult, but would tremendously boost my score opening up that avail credit.

You seem to see more debt as a potential solution. Consolidating your debt to lower your interest rate makes sense. Other than that, your credit score is meaningless. Maybe I misinterpreted your point.

Most of the time, it's simply a matter of making tough decisions and living below the level you are living now. A lot of people have problems with that concept. It's not too dissimilar with a drug addict. It's hard to see the solution until you've adopted that new lifestyle.

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Stop worrying about your credit score. That score if only useful if you want to borrow more money, which you shouldn't be doing.

Consolidate if you are able to get a lower rate. You need to pay extra, which means you need to spend less elsewhere or make more money (preferably both).

This is actually pretty easy if you are dead-set on keeping your current job. Two step plan:
1) Make a monthly budget and cut out everything that isn't essential.
2) Find an additional job doing anything at all. Deliver pizzas, walk dogs, anything.

Those are actually the two main steps to anyone's plan to get out of debt. People end up failing because they don't want to cut unnecessary spending, or they don't want to spend their free time working another job. Just suck it up and do those things for a short period and you will work your way out.

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All good advice IMO

I had a friend that had to get out of a similar situation and he got a second job as a door guy at a bar on weekends. He opened up a new checking account to deposit all the funds from that job in and didn't merge the income with the existing account. After a few months he was on top of things to where he ditched the second lower paying job.

The only way to get out fast is to find every way possible to cut expenses and increase income. Attack it aggressively up front to get things to where they are more manageable.

Dave Ramsey, get his book asap...

Wait so we don’t get rich off of credit card rewards?