Once you have accessed your credit report it will be even easier to list all your debt seeing as most – if not all of it will appear on the report.

When you consolidate your debt, you bundle it all together and repay it as one big loan. Therefore, you will need to know exactly how much debt you have when it is all combined. Be sure to list each and every account, credit card and loan that you currently have outstanding debt on.


It is helpful to access your credit report as this is where you will find a comprehensive list of all your debts.

Consolidating high-interest debt

Once you have all your debt listed, you can determine the highest interest paying accounts for consolidation. You should list them from the highest to the lowest interest rates since high-interest debt is more expensive and consolidating this debt can help you save some money.

Consolidation loans also have a fixed interest rate but considering the combined interest on high-interest accounts, you can save money.

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