Anyone with mounting bills, credit card and mortgage payments can tell you that the old Arab saying, "the burden of debts is more than that of a mountain", is absolutely true. Tragically, not all of us suffer the consequences because we squandered money we don't have; some of us have led a model life, saved for a rainy day yet the economic crisis have pushed them into a hole. Is there no hope, or is there a silver lining somewhere? There is, you can relieve debt for real with some good strategies, a little discipline and curtailed spending. Here are some ways:

People who are neck deep in bills are looking for immediate relief, your debt may have piled on in the last few weeks or in the last few years either way, you can get quick debt relief. Initially, you need your credit report. If you haven't asked for one yet, you can get one free report each year. Not leaving out even the most minuscule amount, use the report to make a detailed list of all your debts.

Next, you need to look at consumer counseling options; there are many non profit and for profit organizations that offer credit counseling services and they can help you to get debt relief immediately. Having your debt list in hand when you meet the counselor would be a good idea, so that he can asses your situation immediately.

With a credit counselor on your side, you will end up paying substantially less than what you actually owe because he/ she will try to negotiate the lowest payments for you. You'll be able to afford the monthly payments. The counseling service will forward the money to your creditors on a monthly or weekly basis, after you have given them the money.

If you compare the interest rate on your retirement account with the outgoing interest rate and notice that the latter is significantly more, then you are losing more than what you are making through the interest on your retirement account. In this case, you may want to consider cashing in a portion of your retirement funds; however, you need to understand, that any profit on these funds will be subject to capital gains tax.

Taking in a second mortgage on your home is also a good way to pay off your loan in full and more often this alternative will be cheaper than a debt consolidation loan. A low monthly payment is required on your second mortgage but that advantage here is that your debts like your credit card bills will be removed instantly.

If your boss is approachable, try asking him for an advance that can be utilized to pay off smaller loans. But, you have to be willing to live with a slightly smaller salary.

As you can see, there are many ways to relieve yourself of debt; the most essential aspect is the preparedness to do whatever it takes to be debt free.