The average person carries around eight or nine credit cards in United States! And if you have that many – or even more – you may be looking for a way to consolidate your debt into one, single monthly payment. Fortunately, you have several options available for consolidating your debt. You may want to consider:

Will a loan help?

If you’re the owner of a home, Home Equity Loan, Home Equity Line of Credit or a second mortgage is probably the cheapest way to borrow a lump sum of cash for debt consolidation. By tapping the equity of your home, you can pay off your creditors so that you have only one creditor – your Home Equity lender – to pay each month. If you’re not the owner of the home, you may still be able to find some relatively low interest rate personal loans if you can use another valuable possession you have as collateral, such as car, boat, stocks or bonds, or jewelry.

Get another credit card

Of course, the idea got a second credit card may sound crazy and irresponsible. But the key is to sign up for low interest card and then transfer all balances from the old card again. So this way you will be consolidating all your credit card debt in one. You don’t need to sign up for a new account if you already have a card that has a zero balance plus low interest. In this case, you can simply transfer your other credit card balance low interest card you already have. Anyway, this is a simple and relatively painless way to consolidate debt with the help of consumer credit debt consolidation.

Get professional help

Can’t qualify for a loan or new credit card? If this is your current situation, you need to get some professional help. Consumer Credit Debt consolidation companies – or the so-called debt management companies – can help you lower interest rates, lower minimum payments and consolidate your debt into one easy to manage monthly bill. You can find many debt consolidation companies: you can search for them online, asking friends and family, or check your local yellow pages.

Notwithstanding the decisions you make, debt consolidation can help you gain back control of your financial life. By consolidating the multiple payments you had to make to your credit cards in just one account, it’s going to be easier to make your monthly payment on time. In addition, many options, consumer credit debt consolidation allows you to lower your interest rates and minimum payments you will have to make every month, which can help you save money and pay off your debt faster and get out of debt with the help of consumer credit debt consolidation.