If you consolidate credit cards so that the average interest rate being paid falls, and then pay a little more on that consolidated balance every month, or make an extra payment every year, then you can work that debt down pretty quickly.
Balance transfer options are a good place to start when considering consolidating credit cards.
Tying it together It's critical to address mounting debt quickly when your credit is good and you have more options, including consolidation.
Taking action to reduce your overall debt, either by paying it down or refinancing it, can reduce the risk of late and missed payments and their resulting fees, and make your life simpler.
If you need to consolidate federal subsidized or unsubsidized student loans, the first place to look is the U. If you want to consolidate a loan that is in default you'll have to make arrangements with your lender first, or agree to pay your new consolidation loan under an income-based plan or other repayment plan offered by the Department of Education.