Use a balance transfer to move as much high interest debt as you can into a lower interest rate account.
Be aware that balance transfer offers come with a low, introductory 'teaser rate' that adjusts to a higher rate, after the introductory period ends.
Whether you owe student loans or carry a balance on your credit cards, the impact of debt can be felt in many areas of your life.
If your debt comes from multiple sources, it can make things much trickier as you juggle multiple payments each month.
Even if they are members of such organizations, though, be picky. So while the agencies and employees vary, the plans are all structured the same way: Your counselor determines how much it will take to pay your creditors in full in three to five years.The agency should be organized, send payments and statements on time and offer strong consumer education and support. The payment is usually around 2.5 percent of the total debt, though in hardship situations, there is some wiggle room. Why consolidate bills if you can't pay for basic expenses or if there are better alternatives?You can stop the plan at any time, and you can also pay more -- and get out of debt faster -- when you have extra funds. You wouldn't, which is the reason consolidation begins with a counseling appointment where your entire financial situation is assessed.Studies released by Urban Institute in July 2014 showed that 35 percent of Americans -- roughly one out of three -- are so behind in their finances that they have debt in collections.Many people become overwhelmed by their debts, but they don't have to be.You can’t borrow your way out of debt in the same way you can’t get out of a hole by digging out the bottom.