In recent years, balance transfers have become a less realistic option.
New legislation has caused creditors to require higher minimum payments (so that consumers pay off debts in a timely fashion).
Thankfully, for those with a good enough credit score, there are personal loan options available that can be much better than many other alternatives.
Using a personal loan for credit consolidation could substantially lower how much you pay in interest.
Debt consolidation is a third-party payment system. Agencies range in quality so make sure you shop around. Most debt consolidation plans are structured the same way. They ensure member agencies pass rigorous standards set forth by the Council on Accreditation or another approved third party, and that their counselors pass a comprehensive certification program. Financial institutions don't give preferential treatment to any one organization, nonprofit or otherwise.