Debt consolidation is one way of solving a multiple debt situation, and, as you would expect, there are several types of debt consolidation loans, each with its own pros and cons. If you have several monthly loan repayments to make and are finding it difficult to make the payments, debt consolidation might just be the answer.
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The start of a new year fills people’s hearts with new hopes and plans for success. For most, the number one priority is to experience financial freedom and meeting their financial goals. But how do you start creating goals that will set you up for success? 
Being in debt is like having a black cloud hanging over your head all of the time. Nobody wants to owe money, so the best thing you can do is get out of debt as fast as you can. For some people it may take only weeks/months. For others, it may take years. However, if you’re consistent, you should be able to get out of debt pretty quickly.
Set Up a Direct Debit Payment
By setting up a direct debit payment, you won’t even need to think about sending the money over. This won’t give you a chance to decide not to and do something else with it either!
If you don’t deal with your debts quickly and efficiently, it’s easy for them to get out of your control. Here’s how to clear your debts as quickly as possible.
1. Get Independent Advice
When you’re in debt, it can be hard to know where to turn. It seems like there’s nobody out there to help you when you need help most. But that’s not necessarily true. There are people to turn to, but some of them will charge you for it. Those are the companies you should stay away from.
Fee-paying debt management companies might seem like a good prospect when you’re desperate. But spending money on their services will make your situation worse. Instead, you should find free debt advice. There are lots of non-profit organizations out there that will help you out.