Get the Most Out of Debt Consolidation

When done correctly, debt consolidation is the best way to get out of debt.  Unfortunately, many people end up with more debt when they try to consolidate on their own, why is this? They didn't really know what they were getting in to when they started. This article will take a look at how to get the most out of your debt consolidation and get out of it better than when you started. debt consolidation loans

The most important thing to keep in mind is that the highest APR credit cards have to be paid off first.  To do this, lay all of your bills in front of you and organize them from highest to lowest APR.  The ones that are on the high side will get paid off first, this is an especially good idea if you are trying to do this without a loan.  The low APR cards can wait a bit while you take care of the debt that's really railing you. debt consolidation loans

If you are able to get a debt consolidation loan, it's as simple as paying all of your credit card debts at once, even if you have balances on them.  Another option is to transfer all of your credit card debt onto one 0% APR card that will allow you to make one payment to take care of your debt.  If you choose this route, be sure to use that card sparingly or you may just end up putting yourself further in debt than when you started.
 
Learning the balance between paying your debt down and making more is where many people end up in trouble. In order to get yourself out of debt, you must be organized in your payments and stop making more debt. Learning the discipline that it takes is certainly difficult, but it's very necessary if you ever plan on having debt freedom.