So, youre falling behind on your credit card payments.

Hey, it happens to the best of us.

What are you going to do about it?

A woman with a laptop, mobile phone calculator and credit cards wrtites in a notebook.

Tina Russell/The Penny Hoarder

If you have a lot of credit card debt, you should seriously consider consolidating it.

Heres your guide to consolidating your credit card debt.

Should I Consolidate My Credit Card Debt?

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Theres also a Part 2, though.

Dont run up debt again, or youll soon be in the same predicament.

Our Favorite Ways to Consolidate Your Credit Card Debt

You have a few options to consider.

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Hopefully, it leaves you with one payment and much lower interest.

Here are some of our favorite avenues to consider, with the full list below.

Its important to shop around for a good rate at a respected lender.

Plus, no credit card payment this month.

MoneyLion wont make you stand in line or call a bank.

And if youre worried you wont qualify, its free tocheck online.

It takes just two minutes, and it could save you thousands of dollars.

Crediblewill help match you with a loan thatll cover your credit card tab.

Use that loan to pay off your debt, then make monthly payments to repay the loan.

It could lower your monthly payments and help you pay off that debt a lot faster.

Plus, no credit card payment this month.

All Smart Credit Card Users:

Debt can get out of control fast.

(Inflation, amiright?)

That doesnt mean you have to let your debt run your life.

And you wont run into prepayment penalties you see in some personal loans.

The cons:After that sweet, sweet promotional period ends, a high interest rate usually kicks in.

And you usually cant get approved for a transfer from a card with the same issuer.

So clearly, a lot of people feel its a valid option.

The cons:You give up any growth that money wouldve seen in the market.

Need Some Quick Cash?

If youre looking to boost your income this month, weve got just the thing for you.

These typically offer way lower interest rates than credit cards.

Thats because youre borrowing against your equity.

So whats the difference between a home equity loan and a home equity line of credit?

Another option?Hometap.

While it doesnt loan you money,Hometapcan help you tap into the value of your home.

This can be your primary home, a rental property or vacation home.

Since its not a loan, there are no monthly payments.

Instead, when you settle your investment, Hometap gets an agreed-upon percentage of the new home value.

you might have money in-hand in as little as three weeks.

After you close on the investment, your funds are wired within a matter of days.

Youll need a credit score of at least 500 to qualify.

5.Debt ManagementProgram

Finally, debt management programs can help with your credit card consolidation.

Theyll handle your consolidation and negotiate better interest rates and lower fees.

This program is specifically for unsecured debts, like credit cards and medical bills.

Your credit score may even improve during the program.

The program typicallylasts three to five yearsand may not have an option to pay off your debt faster.

Do your due diligence when seeking out a program.

Look for nonprofit financial education institutions like the National Foundation for Credit Counseling to avoid getting scammed.

Heard of These Credit Card Debt Tips?

But millions of Americans overlookthese easy tipsthat could help them manage credit card debt even more wisely.

Read moreto boost your credit knowledge and keep your credit score in check.

Tips For Making AnyDebt ConsolidationWork

Debt consolidation isnt for everyone.

Its not a magic wand.

Its actually a yearslong process that requires discipline.

Heres how to check that itll work for you.

Stop Using YourCredit Cards

First, make a budget you’re able to actually stick to.

Spend a few weeks tracking what you really spend.

What seems like small costs going out for lunch or coffee every day add up over time.

Cut up your credit cards or lock them away.

Put yourself on a spending diet.

If you cant pay cash for it, you dont need it.

You dont need to close all your credit card accounts.

you better do to take away the temptation to spend more than youre bringing in.

Do whatever you gotta do.

To determine whether you’re able to do that, figure out what you owe.

Build an emergency fund of at least $1,000 to cover emergencies and unexpected expenses.

This fund will help you maintain momentum on your debt-free journey when expenses come up.

That shouldnt be your first choice, though.

Bankruptcy will be a black mark on your credit history one that lasts up to 10 years.

We Dare You to Take Control of Your Debt

Up for a debt challenge?

In 10 days,these 10 practical stepscould help you get back on the right financial track.

Lets address some common questions.

Do credit card debt consolidation loans really work?

Yes, credit card debt consolidation loans can work effectively if used responsibly.

How do I consolidate credit card debt without hurting my credit?

What are the benefits of credit card debt consolidation?

How much can I borrow with a consolidation loan?

We can’t personalize articles for our readers, so your situation may vary from the one discussed here.

kindly seek a licensed professional for tax advice, legal advice, financial planning advice or investment advice.