2. Credit card transfers. While rate surfing could save you money on high interest credit cards, it only makes sense if you can pay off your outstanding debt within the time frame of the low introductory rate. Be careful, by the time you do all the transferring, the introductory period could be over. Read the terms and conditions of the transfer carefully. The change of one word or two can change the entire contract.

3. Home equity loans. A home equity loan can be very useful if it's used properly. They're relatively easy to obtain, inexpensive, and they may offer a tax deduction for the interest portion of the loan. The downside is that the collateral for the loan is your house.

Another disadvantage is low-pressure repayment terms. A relaxed repayment schedule should not be part of your goal. Your new monthly payment should be at least as large as your previous monthly payments. If you really want to make progress, pay more than your monthly payment, because you'll pay it off faster.

4. Credit unions. If you're not a member of a credit union, check with your employer, family members or organizations of which you're a member to see if you're eligible to join one. Credit unions generally have lower interest rates and fees on loans.

5. Retirement funds. Accessing retirement funds offers a way of lowering your payments and speeding up the debt repayment process. Most employers will allow loans from a 401(k) or other retirement plan, but this should only be used when you have no other choice. The interest is rarely tax-deductible, but you're paying interest to yourself instead of a bank. A drawback is if you can't pay it back within five years, the IRS will assess taxes and penalties. Furthermore, if you quit or lose your job, your employer will call the loan in full when you leave.

6. Family and friends. Financial advisers are universal in their advice that personal loans are a great way to destroy a relationship. Nevertheless, it is an option. Just make sure you get it all in writing and pay them back as soon as possible.

7. Life insurance. If you have whole life insurance, you can borrow against its value. There's no time limit and technically, you don't really have to pay it back at all. If you don't pay it back however, the amount of the loan is deducted from the benefits paid to your beneficiaries, so you probably want to pay it back.

8. Renegotiate the terms with your primary lender. A mortgage lender would rather renegotiate than repossess your home. They can say no, but they do lose money if you default. Most lenders will renegotiate.

Pat Curry is a freelance writer based in Georgia.