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If you are in debt the worst thing you can do is pretend the problem doesn't exist; certain options exist but you must first take some control of the money that is being spent. It is important to recognize you have problem and decide to do something about it and seek a debt relief solution. It is essential to manage debts carefully and get rid of them as soon as possible.The most important thing to remember is not to panic and stay focused as this way your decisions will be clearer and more positive. The order of the day is to continue paying your debts of regularly unless you want your credit rating to plummet.Until you sit down and create a list of all your monthly expenditure, including everything you pay money out on a regular basis, you will not have a true picture of where all your income is going. Cut the credit card purchases by introducing a habit of paying in cash as this will restrict your expenditure to the amount of cash you are carrying.You will be surprised to learn that spare money is available which can be put to good use; saving it as part of your debt relief solution, even if it takes a while for it to be worth anything. Also, putting a limit on unnecessary expenses such as entertainment, until the time you have paid off your  creditors , any excess money in the repayment fund can be used for this purpose. Sometimes when the debt is large, people decide to refinance their homes to help pay off their debts but this means taking on a bigger mortgage so it is best to avoid this option if possible. Although this is a great way to raise spare cash in the short term you may not think that way a few years later so consider if this is really right for you.In the short term, withdrawing cash from a credit card to make a payment may seem to make sense but over a prolonged period it will just increase the debt. Whilst bankruptcy seems to be the only answer there are serious elements to take into account and you would be wise to consult with a specialist bankruptcy attorney first.It is possible to withdraw funds from your individual retirement account and avoid bankruptcy but this will seriously undermine your financial position when you retire. Unfortunately once you withdraw from your IRA, you will lose your future tax-deferred returns so do decide where things are going wrong and then consult with your counselor over your debt relief situation before you go any further.