Are you an overburdened consumer who is seeking out the best debt reduction strategy? If so, congratulations are in order - even by taking the initiative and seeking out a solution, you are already on the road to debt freedom. Despite what the ads on late-night television may claim, most personal finance experts advise consumers to steer clear of costly and unscrupulous third-party debt settlement firms. If you are facing severe financial circumstances and have no short-term prospects for improving your lot, bankruptcy may be the most viable option. However, if you are able to make your monthly payments and just want to reduce your overall debt load, you can easily take on this project alone. All you need to do is assess your overall financial situation, your income sources, and your monthly obligations and begin to devise a systematic method of paying your debts off one at a time. If you still prefer to have the advice of an expert, schedule a consultation with a non-profit credit counseling service in your community.