What is Debt Consolidation?

Debt consolidation is the process of merging all of an individual’s outstanding loans/debt into one loan. There are a variety of methods a person may select to consolidate their debt.  The better their credit score the more choices an individual may have when considering consolidation.  The three types of debt consolidation are: Debt Consolidation Loan, Debt Consolidation through a Home Equity Line, and Debt Settlement Plan through Credit Counseling.