You may have more than one debt. You can be worried by high interest credit cards, loans and mortgages. To pay off one debt you may need to borrow from someone else, creating yet another debt. The right solution to this problem is debt consolidation.
Debt consolidation is the process of combining multiple unsecured debts (like credit card and personal loans) into one loan with one repayment. For example, if you have three credit cards, you may be able to eliminate your
credit card debt by getting a debt consolidation loan to pay off the credit cards, so that you only have one payment each month instead of three. You replace many payments each month with only one payment, which should make your monthly household budgeting easier.

