When times are tight money-wise, it is best to first give your situation some careful thought. It can be all too easy to simply take what appears to be an easy route, only to later find that you have committed yourself to hardship down the road in time. A good piece of advice, perhaps, is to forecast where your finances will be in a months time, 3 months time, and maybe a years time. Then set a plan of action to deal with the situation on a longer term basis, and see if when doing so you can gain shorter term advantages. My financial guy once asked me how come I go to see him for a consolidation loan when my finances appear to be OK, as it seems from what he said that most people wait until the bills pile up before trying to get a consolidation loan. I told him that it may look OK now, but I will be in financial trouble in a little while! When you look at the options for getting out of debt, the primary method that will have no impact on your credit rating is to obtain a consolidation loan. Doing so will generally eliminate those high interest credit card loans, you know, the ones that will take 35 years to pay off if minimum payments are made. By going the debt consolidation route, you store up less problems for your future, and still make your situation manageable - that doesn't mean that you can carry on spending too much - that is what most likely caused your current or upcoming problems, but by using debt consolidation, you can decrease the overall that you spend on interest, which means the principal sum owed decreases more with each month that passes. Your monthly payment amount must not be set by guessing, but be a realistic figure allowing you to pay down the loan without experiencing total hardship. It will allow you to make one payment with no juggling of money from one account to another just to make payments.

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