Many consumers want to pay off their debt in 2021 but are unsure how to navigate the COVID-19 economy. Experts recommend listing all your debts and contacting each lender to see if it will reduce your interest rate, lower your monthly payment or waive late fees. The resulting savings should be applied to your debt. Consolidation tools may also be a good idea for those who have multiple debts and can qualify for a low rate. As you start to pay down your balances, automate your finances to prevent going into debt in the future.