Anyone who has too close to the line fears it. There are lots of tips on how to avoid it, and to save yourself the stress, it’s worth following them. However, once you find yourself in the debt spiral, it might be easier than you think to escape them.

Here, we’re going to look at those rays of hope that still get through even when the skies are darkest. These are the ways out of debt you might not have considered.

Make as much room as you can

As soon as debt starts becoming too much for you and you simply can’t meet your minimums every month, then it’s time to drastically re-evaluate your budget if you haven’t already done it. Start by looking at where exactly you spend your money. If you’re blunt and honest with yourself, you can start finding even small ways to cut your expenses. No coffee shop stop on the way to work, bring a flask, instead, for instance.

Or perhaps you have to get used to buying big bags of rice that make up the main ingredient of a lot of your meals. Take a machete to your expenses and free up as much money as you can to pay off your smallest debts first, then move on to those with the greatest interest.

Downsize your life

Sometimes, budget cuts alone just aren’t going to cut in. In that case, it’s time to start looking at your assets. There are plenty of websites online where you can start selling off all kinds of goods, from media to electronics to clothes. But if you need to, it’s time to consider the bigger assets.

Things like your car and your home are going to get repossessed if your debt grows enough already. If selling your house quickly could help you downsize your property while paying off debt before it gets that far, see https://www.needtosellmyhousefast.com for details. If you’re going to risk losing everything then bite the bullet early, keep more of your money, and clear your debt off in one fell swoop.

Have someone in your corner

If you don’t have the assets to sell your way out of debt, perhaps you can negotiate yourself out of debt instead. Check out https://www.thesimpledollar.com to get an idea of how debt settlement companies can help you by offering expert negotiation in your place, often getting creditors agree to let you make smaller payments and even reducing your debts considerable.

Debt consolidation can be another effective tactic, cutting down the growth of high-interest debt by having someone else buy it. It can also cut down the number of creditors you owe money to, as drastically as going from ten-to-one, so you won’t have anywhere near as many letters or phone calls stressing you out.

Naturally, there’s no way out of debt that’s “pain-free”. You might have to end up selling assets you value dearly, including your own home. Or you might have to live well beneath your means for some time. However, it’s important to know that there’s always a way out. The sooner you take it, the less costly it will be.