Debt Consolidation Planning
Put every debt in one clear view.
Balances, rates, and due dates laid out together, so you can see what your month might look like if several payments became one.
What you owe today
This is an example, and a longer bar means more owed.
- Credit cards
- Store card
- Personal loan
- Medical
If a consolidation loan fits, these could become one monthly payment.
How It Works
Three steps, at your own pace.
Review
We walk through each debt with you: what you owe, the rate, and the monthly payment.
Compare
We look at the consolidation options that may be open to you and what each would cost over time.
Decide
If a consolidation loan fits, we refer you to a licensed lender. Next Step Consolidation is not a lender and does not make loans.
Debt Types
The debts people most often combine.
Credit cards
Several balances, several rates, and several due dates are the most common reason people look at consolidation.
Store cards
Retail and store branded cards, which often carry higher rates than general credit cards.
Medical bills
Balances from care that arrived all at once, often spread across more than one provider.
Personal loans
Installment loans you already have, which may be combined with other balances.
Every situation is different. In your consultation we look at which of your debts, if any, could make sense to combine.
Ways To Consolidate
Two common ways to combine debt.
Consolidation loan
A single personal loan pays off several balances, and you make one fixed monthly payment. Watch the rate, any origination fee and the length of the loan.
Balance transfer card
You move card balances onto one card, often with a low introductory rate. Watch the transfer fee and the rate once the introductory period ends.
Consider Your Options
- Consolidating your debt does not automatically improve your credit score.
- A lower monthly payment can result from a longer repayment term and may increase total borrowing costs.
- Consolidation does not guarantee savings or approval.