Consolidating my debt

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While we try to feature as many credit cards offers on our site as we can maintain (1,200 and counting!

), we recognize that our site does not feature every card company or card available on the market.

" Taking out a loan to pay off unsecured credit balances is an option that many people consider.

But continuing to borrow money to pay off your bills makes debt and bill consolidation more difficult and is like placing a small bandage on a growing woun.

For a list of all of our advertising partners, click here' With so many websites offering free financial tools, it can be hard to know whom to trust.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.If you need help getting out of debt, you are not alone.Although signs show an upturn in the economy, many Americans are deep in debt, and not everyone can work overtime or a second job to pay down that debt.Through a bill consolidation plan, the company will work with you to consolidate all debt into one payment every month.By consolidating debt into one payment, the debt relief company will pay off your existing creditors, and you'll make just one payment each month.Many of the credit card offers that appear on this site are from companies from which Nerd Wallet receives compensation.The results of our “card comparison and finder tool”, card assessments, and reviews are based on objective quantitative and qualitative analysis of card attributes. Compensation may impact which cards we review and write about and how and where products appear on this site (including, for example, the order in which they appear).You use the loan to pay off all of your credit cards.Then, while you're making monthly payments on the loan, you start to use those zero-balance credit cards again to charge new purchases. A new loan to consolidate credit card debt you just accumulated may not be possible, because the more debt you have has a negative impact on your credit rating.

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