There's an old saying that says that if you fail to plan, you plan to fail. That holds true for those struggling with debt in today's difficult economy. Unless you have a debt reduction plan, you can literally be said to be planning to fail. There are many ways that you can formulate a debt reduction plan, either on your own or with outside help. First, you can simply establish a budget that limits your spending and allows for debt payment on a regular basis. If you're not sure how to do that, debt reduction software is available for free on the internet. It can help you set up a plan to reduce debt and get back on your financial feet. There are also credit counseling services that will do the same things for you for a small fee. In addition, there are debt negotiation and settlement companies that can perform even more complex services for higher fees. And of course, there are debt reduction lawyers who can help you sort through your options, up to and including bankruptcy, to determine what is best for you.