Have you considered a debt consolidation loan? Debt consolidation is obtaining a loan to pay off your other loans. You use the money from the consolidation loan to pay off several other high-interest debts, such as credit cards or other higher-interest loans.Begin the process by doing this: get a loan from bank, and use the money from the loan to pay off your other obligations. Make sure that the consolidation loan has a lower interest rate than the credit card loans and other personal loans that you’re paying off. In fact, you should look for the lowest rate possible. The lower interest rate will save you hundreds or thousands of dollars over the life of the loan, and could allow you to get out of debt much sooner than would otherwise be possible.