Debt consolidation rolls multiple debts — typically high-interest debt, like credit cards — into a single payment. It’s an especially good idea if you can get a lower interest rate than what you’re currently paying.
If you’re dealing with a manageable amount of debt and want to simplify repayments and potentially pay off debt faster, then debt consolidation is a sound approach you can tackle on your own.
There are two main ways to consolidate debt, both of which combine your debt payments into…

