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People have saved thousands by consolidating higher-interest debts using a single, personal loan, this will not negatively impact your credit.
Check Your Rate Now Of all the options available to people who need debt help, debt consolidation is one of the most mild, least drastic options.
That’s because, unlike other methods we’ll describe below, you don’t have to negotiate with your creditors in order to do debt consolidation.
Debt consolidation entails taking out a new loan (called a debt consolidation loan) to pay off your existing debts.
So before you get caught up in paying thousands of dollars to a company that’s not trustworthy, read through the information below and learn what you need to know about the most common ways to get out of debt.
Check your rate using Ready For Zero's free debt consolidation tool.
It uses a complex mathematical algorithm to come up with a score that predicts whether you are more or less likely to default on your next loan.When you’ve fallen behind on your payments, it can feel like there’s nowhere to turn.One potential option to get organized and streamline your bills is debt consolidation. Believe it or not, there are many unreliable and even predatory companies out there that will take advantage of you if you’re not careful, so you must do your research and understand how these options work and decide which get-out-of-debt method is right for you.
Below, you’ll find concise explanations of the five major ways that Americans get out of debt: We’ve found that using traditional methods to search for information about these programs doesn’t work.
While it’s not as drastic as debt settlement or debt management, debt consolidation has its own pitfalls that you need to be aware of.