When Debt Consolidation Doesn't Work
Consolidation only helps if you qualify for genuinely better terms and can stick to the new payment. Here are the signs it may not be the right fit for your situation.
Your debt-to-income ratio is too high to qualify for a meaningfully lower rate
Your credit score limits you to rates similar to what you're already paying
You'd need to use your home as collateral for a large risk-tolerance stretch
The spending habits that created the debt haven't changed
You're already behind on payments and can't qualify for new credit
What to Consider Instead
If consolidation isn't a fit, debt settlement or a debt management plan may better match your situation. Take the free debt assessment to compare options.