There many kinds of debt consolidation loans out there

. Some of them include a home equity line of credit, a home equity loan and a personal loan. Before picking the kind of loan you want, you should think about what the rates and fees are for each one. Figure out which one is best for you.

One way to pay off your debt is to borrow money. Call around to get interest rates on loans you are eligible for. You can use a vehicle as a collateral for the loan and use the money you borrow to pay your creditors. Just be sure to pay the loan back when it is due.

Find out whether a debt consolidation company is a "home equity loan" provider in disguise. Some debt consolidation companies really just want you to take out a home equity loan. Don't let this be you. After all, your home is the most important thing you have. If you find out a company wants you to take out a loan on your home, move on.