Debt Consolidation

Debt consolidation helps you reduce your total debt and helps you pay off your debts faster. Your coach will analyze your financial situation and help you determine if debt consolidation is right for you.

How do Debt Consolidation services work?

If you have multiple, high-interest debts — like credit card bills — debt consolidation combines these debts so you only have to manage one single payment.

This debt relief solution can help you manage multiple interest rates, payments, and due dates.

With so many different debt consolidation solutions out there, our coaches can make sure you chose the one that’s right for you.


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What you should know

There are multiple ways to consolidate debt.

Debt management plans, debt settlement, debt consolidation loans, and balance-transfer credit cards are all options. Some debt consolidation loans, like 401(k) loans and home equity loans, pose risks to your home and retirement. So, it’s best to talk to one of our coaches before making any hasty decisions.

Debt consolidation is a good idea if you can get a lower interest rate.

Your credit score, credit history, and debt-to-income ratio will determine whether you qualify for a balance-transfer credit card, or a fixed-rate debt consolidation loan.

Your total debt (excluding mortgage) shouldn’t exceed 40% of your gross income.

Debt consolidation success relies on your ability to make your payments each month.

Are you ready to talk to a coach?

Our qualified financial coaches can help you reduce debt, consolidate your payments, and avoid bankruptcy. We’ll help you reach your financial goals with a custom-tailored debt solution that works for you.