Finding solutions to reducing your debt takes some thinking and research on your part. You have some sizeably good choices available to you and we shall list these key debt reduction solutions for you right here:

1. Home Equity Loan or Home Equity Line of Credit. Your 21% charge card could be reduced to nearly 6% over night. How? By acquiring out a line of credit or equity loan against your home. Equity loans and lines of credit are available at low rates and banks are very willing to extend this accomadation to you as your home is your collateral. Pay off all of your credit card debt with the loan and you will achieve debt reduction solutions immediately.

2. Replace high interest credit cards with low interest cards. Yes, in this day of low interest rates, many credit cards carry high interest rates. Ask your credit card issuer to reduce their rate closer to sell rates. If they refuse to budge, think about applying for a low interest rate card from another provider. Transfer your balance to the provider offering the best rate.

3. Debt reduction solutions might be realized through the selling of other assets including: an more car, antiques, jewelry, more property, renting out property, or liquidating some other assets. Check around your home and see if there is something that you owe that might be sold on eBay or locally at a yard sale. Take the proceeds from your sale and pay down your debt, starting with the biggest debt first.

4. If you do not owe a home, or the home you do own has negligible equity built up then you cannot get equity from your home. Still, depending on your income, you could be eligible for mortgage refinancing below sell rates. Check with your bank or local housing authority to see if you qualify for a low or moderate income loan. The savings you realize through reduced mortgage payments may help you pay down your debt.

Finding debt reduction solutions that work for you is an important first step in eliminating debt. Make a plan and stick with it and you will soon be living a debt free of price /care costless life.