There are usually two ways to consolidate your debts.

One is to pay off all higher interest debt with one low interest loan. This is usually done with a home equity loan if you own your home.

Another way to consolidate your debt is by using a debt consolidation or debt reduction program. Make sure to use one that is a non-profit consumer credit counseling service. They ask for no fees or a very small handling charge. Fees are usually paid by pools from all the creditors.

They collect from you, and pay your creditors through agreements to either eliminate or reduce your interest rate. Reduced interest will drastically cut down your pay off time and save you a great deal of money. You will also get debt counseling as part of their service an assigned counselor.

Once you enroll in the debt reduction program, your creditors can only contact your debt manager and not you.