The best way to reduce your debt load is to just pay it off entirely.
If you are trying to refinance a home loan, I would take a look at what your balance is and look to save 15% to 20% of that and bring that to the table as part of your refinance offer. In the post-sub-prime environment we are in, the banks are not looking to take risks.
If this is a credit card balance you are trying to pay off, you could look at one of the 0% balance transfer offers. I used one to get out from under a 12.99% APR while I was paying it off. My transfer fee was somewhere in the 3% to 5% range, which is at least a 7.99% discount, up to a 9.99% discount. You essentially pay a year's interest upfront via the 'balance transfer fee,' but the benefit is you accrue no more interest over the term of the offer (typically six months to a year, based on your credit history). This is about the only 'tool' you can use to outright get from under a higher interest rate.
One other thing I've done with our car loan is pay a little bit extra each month, which in turn reduces the amount of the daily interest that accrues on the loan. I think it is down to about $3/day whereas it was about $5/day when I realized what was going on. (I say realize because it was a car loan my wife took out before we married and I was not used to having a car note.)
How many loans do you have outstanding? How much are you budgeting to pay off debt? Focus on the smallest one first and then when it's paid off, just add that payment amount to the next smallest debt and before you know it, you will be debt free. If you really want to get out of debt, you must examine how you are spending your money. For instance, I might purchase at the most, two video games a year at full price. It has to be a game that I will play immediately. I previously would just buy video games willy-nilly and as a result, I have a stack of unplayed games that I'm 'behind' on playing.