Are you looking to consolidate your debt? There are many ways to do this but i’m warning you, the best thing to do is to pay off your debts on your own.
Debt consolidation is basically putting all your debt into one account. People usually hire a debt consolidation company to handle this procedure for them. If you are considering consolidating your debts you may want to calculate what the savings will be and the length of time it will take you to pay off loans versus paying them off separately.
You can find out this information by using a debt consolidation loan calculator. I found that MSN Money has a great site setup to help with debt calculation. You simply enter in your debts and how much you can pay on a monthly basis and it will calculate the length of time it will take to become debt free.
If consolidating your loans is what it will take for you to become debt free then follow through with the process. But do not take out more loans during the process or you will drive yourself insane. Make your monthly payment and pay more than the minimum if you can to hurry up the debt free process. Bankruptcy is not an option.
