The best way to consolidate credit card debt under ,000 could be to get a zero-percent interest credit card and transfer balances from high-interest credit cards over to it.You also could look at a personal loan to pay off your balances.A debt consolidation loan can simplify your monthly payments into just one payment and may possibly result in lower monthly payment.Debt consolidation often works best for those with credit card debt, which generally comes with higher interest rates.
The longer you carry a balance on credit cards and loans, the more interest you'll rack up on your debt — and the more you'll have to fork over when all is said and done.
Make a list of all your balances and the monthly payments you make.
Try your own bank first or consider opening an account with the institution from which you are looking to get a loan.
The idea is to simplify your financial life, help you pay less in interest expenses and work to become debt-free.
Some people have had success using debt consolidation programs to increase their cash flow while paying off higher interest credit cards, student loans, auto loans or small business debt.
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