Need help regarding debt consolidation


I am new to this forum and looking for some help. I’m in a problem right now. I have multiple debts and these high-interest monthly payments are becoming a big problem for me. The major part of my income is spent towards these payments and I am finding it difficult to meet all the other expenses. So, I am looking for a solution to this.
My friend told me about debt consolidation. I searched on the internet and read about it, It is said that debt consolidation will help free you from multiple high-interest payments by consolidating your debt into one manageable monthly payment.
Will I be eligible for this? What are the risk factors connected with debt consolidation? Looking forward to expert suggestion. Thank you.



Debt consolidation may help, but often you can get many of the benefits yourself. Many debt consolidators charge fees that you don’t need to deal with!

Have you talked to your credit card companies about reducing the interest rates? Tell them you are having a hard time making your payments and would like to get a reduced rate.

Are there other expenses in your budget that could be reduced to allow more money to be focused on eliminating debt?

Do you have unused items that could be sold to reduce debt? Hello, Ebay!

Could you work OT or a part time job? This isn’t a way of life…just a temporary fix to eliminate debt.

Obviously there is no way to “consolidate” yourself out of debt! But you do have many things you can do to make it better. Call your credit card companies today, cut other expenses, sell unneeded stuff and look for other income opportunities!

And finally, make sure you stick to a budget so you don’t add to the debt in the future.

Good luck!



I’d probably check my rates at places like lending club and sofi for a personal loan to get the rate lower assuming you aren’t looking at bankruptcy bc the debt is that serious. Might be able to get like 6-10%, way better than cc interest


This may help you.

Living the Dream!