Home Equity Loan

• One way to consolidate your debt is with a home equity loan, which utilizes the equity in your home. You may be able to get an interest rate which is lower than your credit cards. Your home is pledged as collateral, therefore you could lose your home if payments are missed.
  
  

Balance Transfer

• A balance transfer can be used to consolidate your debt. Some credit-card companies offer low introductory rates for a period of six to 18 months, after which the rate increases to the standard rate for the card.
  
  

Refinancing

• Refinancing your first mortgage is another way to consolidate your credit-card debt. The fees you incur can include appraisal fees, title insurance and closing costs, but they can be rolled into the total amount of the loan, which means you have no out-of-pocket expenses.
  
  

Debt Management

• You can also contact a consumer credit counseling agency and go through their debt-management program. They may be able to reduce your interest rate and your monthly payments. You pay them a lump sum and they disburse payments to your individual creditors.
  
  

Home Equity Line

• A home equity line of credit is another option for consolidating your debt. A line of credit uses the equity in your home; the line is reusable and comes with a variable rate of interest. The interest rate can be lower than your credit cards.