What do I need to consider if I want to consolidate my debt?

The one thing you need to consider regarding debt consolidation is whether or not you can aggressively start paying off your debt via debt consolidation. Remember, debt consolidation doesn’t reduce your debt; it just helps it be more manageable. So, you need to analyze your finances to see if you can truly start paying off your debt. See where you can cut back on your expenses. You’re going to have to make some personal sacrifices if you want to get out of debt. If even after you analyze your finances and you just can’t seem to set aside enough each month to significantly pay down your debt, debt consolidation might not be the solution for you. In this case, you’re going to want to consult a debt counselor.