Debt comes in all shapes and sizes. Although millions of Americans currently struggle with credit-related problems, no two Debt burdens are exactly alike. For some folks, the culprit is a massive burden of student loans. For others, it’s an expensive mortgage that’s attached to a virtually worthless house.

No matter what form your personal burden takes, you’re probably worried about choosing the best debt solution. After all, there are many different means by which everyday Americans seek to reduce their obligations.

While it’s good that there are so many well-regarded debt solutions in existence, sorting through them to find the perfect answer can be overwhelming. Before you throw in the towel and resign yourself to another year of financial strain, take a moment to assess your situation. Choosing the best debt solution for your needs might be easier than you think.

Size and Type of Debt

First, take a look at your personal mix of debts. The solution for a $50,000 burden of medical debt might be very different from the solution for a $7,000 knot of past-due credit card bills. Don’t be afraid to ask for advice from a financial expert.

Some debt relief methods are well-suited to certain types of debt. For instance, credit counseling is often noted as a great solution to relatively small amounts of high-interest credit card debt. Likewise, debt consolidation loans are often tapped as a solid fix for diverse bags of unsecured debt. For its part, debt negotiation is seen as capable of dispelling virtually every type of unsecured debt.

Do It Yourself

Many borrowers prefer to deal with their debts on their own terms. A surprising number are able to do so successfully.

If you’re looking to attack your debts on your own, you’ll need to make a household budget that keeps your spending in line with your income. You’ll also want to stop using your credit cards and begin putting the bulk of your disposable income towards your outstanding debt balances.

You might find it easier to use a do-it-yourself debt solution that’s proven its effectiveness in the past. Don’t be afraid to seek out tried-and-true plans like Dave Ramsey’s "debt snowball" method.

Credit Counseling

If you’d prefer to seek the help of a professional, consider contacting your local credit counselor. Your credit counselor will work closely with your lenders to reduce the interest rates on your outstanding credit card debts.

At the same time, he or she will bundle your debts into a single credit facility. Since you’ll be responsible for making just one payment per month, you’ll find it far easier to remember your payments. What’s more, you’ll receive budgeting advice that could strengthen your household finances for years to come.

More Loans?

Although it might not sound prudent, some borrowers choose to pay off their existing obligations with lower-interest loans. Known as debt consolidation loans, these pieces of credit are designed to combine your old debts into a low-interest bundle that’s easier to handle.

While debt consolidation loans can be powerful debt-reduction tools, they’re not for everyone. If you have a below-average credit score, you might not qualify for one of these debt solutions. In that case, you’ll be forced to choose another form of debt relief.

Debt Negotiation

Debt negotiation is a powerful form of debt relief that can help folks who may not be eligible for debt consolidation loans. You don’t need to meet a credit-score threshold to enroll in a debt negotiation plan.

Also known as debt settlement, debt negotiation can reduce the principal balances on your credit card bills and other debts. Once you stop paying off your current creditors and begin saving for your final debt settlement payment, you can expect to resolve your debt situation in just 24 to 48 months. That’s faster than most other forms of debt relief.

Choosing the best debt solution doesn’t have to be an unpleasant ordeal. If you’re willing to take a hard look at your debt situation and choose the method that best suits your needs, you could find yourself on the road to financial freedom in short order.