This method works best if you have a plan to pay off your debt within the 0% promotional period.Pros: Allows you to manage only one credit card payment at no interest, instead of multiple payments at high interest.

There are many ways to consolidate your credit card and other debt, such as with a 0% APR credit card, a home equity loan or a personal loan.

The option that best suits you will depend on your credit, available cash and other aspects of your financial situation, as well as your personality. What to do if your debt is insurmountable Get ready to tackle your debts Your options for debt consolidation Ask yourself a few questions to see if debt consolidation is really what you need: Am I serious about paying off my debt?

Some cards even accept balances from certain types of non-credit-card debt.

Cons: Generally requires a good credit score to qualify.

Credit counselors can help with financial basics like creating a budget and managing cash flow, but they can also create a debt management plan for you.

“People usually wait too long to reach out to a credit counselor, because it’s human nature to try to do it on your own,” says Gail Pridgeon, senior credit counselor at Baltimore-based Guidewell Financial Solutions.

Others succeed because debt consolidation is part of a bigger plan to gain control over their finances.

So the first step in debt consolidation is simply to consider whether it will actually work for you.

If debt can’t be repaid during the promotional period, you’ll need to find another balance-transfer offer or face higher rates.