 Some people do manage their debt relatively well, while others get trapped and struggle to get free. One path toward success necessary for some is to become a cash-only consumer. For those with good credit scores and are able to curb their spending, a balance transfer to a lower interest rate credit card could be worth a try. For an effective debt management and payment plan, you need to have a budget, including an idea how much you can afford to pay against the debt. Don't be afraid to reach out to creditors to seek their help to pay down your debt.