← All debt options
COMPARE BORROWING COSTS
Debt consolidation
Replace multiple debts with a new loan or credit arrangement.
Worth exploring when…
You can qualify for better overall terms and afford the new payment.
Possible fit, not an eligibility decision.What a useful next step looks like.
- 01
Compare actual offers
An advertised rate is not your offer. Look at the APR, origination fee, term, payment and total amount repaid.
- 02
Check your budget
Confirm the payment fits after essentials and irregular expenses. A loan does not fix an ongoing monthly shortfall.
- 03
Avoid rebuilding the balance
Think through how you will handle the old cards after payoff. Adding new balances while paying a consolidation loan can leave you worse off.
THE OTHER SIDE OF THE DECISION
What to weigh.
A lower payment may come from a longer term. Using your home as security puts it at risk.
Bring better questions.
- What is the APR including applicable fees?
- What is the total cost over the entire term?
- Is any property securing this debt?
- Can I pay early without a penalty?
Go to the source.
- CFPB: What to know about consolidating credit card debt ↗
- CFPB: Credit counseling, settlement and consolidation ↗
Checked October 15, 2026. General education; individual circumstances and applicable rules matter.