
Step 1: Determine if you’re a good debt consolidation candidate.
Step 2: Sum up your outstanding debts.
Step 3: Decide which loans to consolidate.
Step 4: Factor in both lower interest rates and longer repayment terms.
Step 5: Choose the right consolidation option for you.
Step 6: Determine your new monthly bill.
Step 7: Do a reality check before committing.
Step 8: Take out the loan and pay off your outstanding debts.
Step 9: Budget to avoid ending up back where you started.
Step 1: Determine if you’re a good debt consolidation candidate.
Step 2: Sum up your outstanding debts.
Step 3: Decide which loans to consolidate.
Step 4: Factor in both lower interest rates and longer repayment terms.
Step 5: Choose the right consolidation option for you.
Step 6: Determine your new monthly bill.
Step 7: Do a reality check before committing.
Step 8: Take out the loan and pay off your outstanding debts.
Step 9: Budget to avoid ending up back where you started.