Consolidate your rate and see exactly what you'd save.

Debt consolidation combines debts into one payment, usually through a loan or balance transfer. It does not erase the amount you owe. Debt settlement seeks an agreement to pay less than the full balance. Settlement can involve fees, collection activity, lawsuits and credit damage, especially if you stop making payments.

There is no guaranteed credit-score outcome. Applying for new credit may involve a hard inquiry; account balances and payment history also matter. Making payments on time is important, and missing payments can hurt your credit. Ask whether a rate check uses a soft or hard inquiry before submitting it.

Possibly, but approval is not determined by your score alone. Lenders consider their own requirements and your financial situation; weaker credit can mean fewer offers or higher rates. Compare APR, fees and total repayment cost. If a new loan is too expensive, a reputable nonprofit credit counselor can help you explore alternatives.

Not necessarily. A transfer fee may apply even when the introductory APR is 0%. The promotional rate expires, and the remaining balance can then accrue interest at the card’s regular rate. Check the fee, transfer deadline, promotional period and APR afterward, and plan how you will repay the balance before the offer ends.

Yes. A home equity loan or HELOC uses your home as collateral, so missed payments can put your home at risk of foreclosure. You are turning unsecured debt, such as credit card balances, into debt secured by your home. Compare closing costs, rate changes and alternatives—not just a lower monthly payment.

Look for clear fees, a review of your budget and debts, and an explanation of several options—not a promise to erase debt. Nonprofit status alone does not guarantee quality. Check the agency with your state attorney general or consumer-protection agency, and ask about costs and any account-closing requirements before agreeing to a debt management plan.