If you’re swimming in a sea of debt, worry can quickly take over. But you do have a number of options available if your debt becomes too much to handle. However, before you settle on a solution for your debt problem, it’s important to weigh the pros and cons of each one.

1. Consolidating Debt. Transferring balances and consolidating all your d    ebt into one payment can be a great debt management option, especially if you find your lowest rate through LowestRate.com. Just remember that though balance transfers often mean lower interest rates, you may need to apply for new credit and pay additional fees.

2. Using Home equity. When you use your home’s equity you can enjoy a lower interest rate as well as tax deductible interest. However, remember that this can run up the debt again as it increases the amount you owe on the house. Only use this as an option if you have a lot of equity in your home.

3. Borrowing from friends or family. Often when you borrow from loved ones you can enjoy little to no interest as well as flexible terms for paying the money back. However, no matter how much you trust each other, be sure to use a contract. You can find contract templates online or utilize the help of a law firm.

4. Borrowing from your 401(k). This option can also give you a good interest rate, however you may have to pay penalties and/or taxes on the amount borrowed if the loan is longer than five years. This should be your last option because it puts your retirement plans in jeopardy.