There are many debt consolidation companies. You see them on TV and on the internet. They will definitely help you find a loan to consolidate your credit card debt but you know there will be a fee. There are several ways to take this task on yourself. Free credit card debt consolidation is possible if you know what to do and have the necessary discipline to get through it.
A credit card debt consolidation service will be able to negotiate lower rates on your cards before paying them off. These consolidation companies also work in bulk payments which gives them leverage to negotiate better deals with the credit card companies, this is how they make their money. As efficient as they can be you will probably save more money if you do your own debt management and consolidate your credit cards by yourself.
One tactic you can use for paying off credit card debt is to seek out another credit card that you can transfer the combined balances of all your current cards to. This may be difficult if they are all maxed out or if you have bad credit. Still, because there are so many of these companies, competition for your business is high so you may be able to find an offer that will deal with your personal situation.
Another option would be to find a personal loan that you can use to pay off all your credit cards. If your credit score is OK you may be able to pull off an unsecured consolidation loan. However, if you have bad credit you may need to seek out a secured personal loan. A secured personal loan will require collateral such as a car or some other possession you have that is of suitable value. If you are a home owner, a home equity loan or even a second mortgage is a possibility.
Whatever method you choose, rest assured that in the long run getting out of credit card debt is a good idea. Interest rates and penalties in combination with their ease of use make credit cards very dangerous, especially to those of us who are living paycheck to paycheck. Free credit card debt consolidation may be a tedious task but by doing it yourself you can save a lot of money. Money that would go towards paying a third party if you chose to go with a credit card debt consolidation service.