Debt Consolidation Options
Consolidation combines multiple debts into one payment, ideally at a lower rate — it doesn't reduce what you owe, but it can simplify repayment and lower interest costs.
Overview
Debt consolidation replaces multiple debts with a single loan or credit line, ideally at a lower interest rate than what you're currently paying across several accounts. It doesn't reduce your principal balance — it restructures how you repay it.
This path generally works best for people with decent-to-good credit (620+) who can qualify for a rate meaningfully lower than their current average. Options include personal loans, balance transfer cards, and home equity products like a HELOC — each with different qualification requirements and risk levels.
This resource center compares every consolidation option, including a partner marketplace that lets you compare real loan offers without a hard credit check.
Start Here
New to this situation? These are the first things to read or do.
How This Usually Unfolds
Step 1
Check your credit and qualification odds
Step 2
Compare loan, HELOC & balance transfer offers
Step 3
Pay off existing balances with the new loan
Step 4
Repay the single consolidated balance
Educational Articles
Comparison Guides
Free Calculators
SuperMoney
Multi-Lender Loan Marketplace · ReliefGuardian Partner
SuperMoney is our top recommendation for navigating your debt consolidation loan options. Their free marketplace lets you compare real, personalized offers from multiple lenders in one place — without a hard inquiry on your credit report.
Compare multiple consolidation loan offers side by side in minutes
Check your rate with a soft credit check — no hard pull, no credit score impact
100% free to compare, with no obligation to accept any offer
See offers from a network of vetted, reputable lenders in one place
Advertising disclosure: ReliefGuardian may earn a commission if you're matched with a lender through SuperMoney. This does not affect our recommendation.
Related Videos
Video guides for this topic are coming soon.
Frequently Asked Questions
What credit score do I need for a consolidation loan?
Most lenders look for a score of 620 or higher, with the best rates reserved for scores of 700+. Below that range, options narrow and rates rise.
Does consolidation reduce what I owe?
No — it restructures the same debt, ideally at a lower interest rate. If you need to reduce the actual balance, debt settlement may be worth exploring instead.