When you enroll in a debt-management program, you write a monthly check to the credit-counseling agency and the agency pays your creditors. In a typical debt-management program, a card issuer will charge lower interest rates, stop charging late fees and contribute money to the debt-counseling agency. A debt-management plan usually lasts three to four years.

A visit to a reputable credit-counseling agency may help you determine if a debt-management plan might be right for you.

Be sure to choose your counseling help carefully. There are some pretty shady operators running so-called counseling agencies these days. For tips on finding the right kind of credit counseling help, check out this article from Bankrate.com.

Do-it-yourself debt help
There are plenty of things you can do to get a handle on your debts all on your own. These pay-down strategies from Bankrate.com are a great place to start.

And you may be able to get lower interest rates on your credit card accounts by picking up the phone, calling your creditors and asking.

You don't need perfect credit to get a rate reduction from your card company but you do need to ask. Not sure what to say? This Bankrate.com article is full of tips.

You may be able to negotiate a lower payoff amount from a credit card company on your own as well. You'll never know if you don't call and ask.

"Most creditors are willing to work with consumers," says Edward J. Johnson III, president of the Better Business Bureau in Washington, D.C. "Their interest is in getting the money back."

So give your creditors a call and ask for a lower payoff amount.

Richard has worked with consumers who were able to settle card accounts by paying 60 percent of the balance. All they did was call and ask.

"They can do this themselves. The creditors are willing," Richard says. "You don't need to hire someone and pay a lot of fees."

But you do need to have plenty of cash available to make a settlement offer. If you don't have the cash, try asking for a break on your monthly payment amount or a lower interest rate.

If you're still game to try a debt-negotiation program, be sure to choose the company carefully.

Contact the Better Business Bureau to see if the firm has had any consumer complaints. Check with your state attorney general's office or other state consumer agencies to find out if there are any pending legal investigations.

"Look into these places," says Deanne Loonin, staff attorney with the National Consumer Law Center in Boston. "What are they doing for you first of all? What kind of track record do they have?"

What kind of fees do they charge? Are there upfront fees? How much do they charge for negotiating a lower payoff amount with a creditor?

Don't forget to check for debt negotiation programs run by credit-counseling agencies. These programs tend to charge lower fees.

Be sure to run a background check on a credit-counseling agency before your first visit. Not every nonprofit counseling agency has your best interest at heart.