You might need to go undergo credit counseling. Going under consumer credit counseling is a way of  offering education to consumers about how to avoid incurring debts that cannot be paid effectively (and on time) by making an effective Debt Management Plan and Budget. Credit counseling not usually explains the functions of credit education or treating the psychology of spending habits, rather it teachess a planned method of debt relief, typically through a Debt Management Plan. Undergoing credit card consolidation is usually recommended when paying off credit card debt becomes too overwhelming. And that you intend to cut off all of them and keep only one. That is one tip usually offered by the consumer credit counseling service!

I know of families who have gotten into so much debt that they needed to apply for debt consolidation loans just to help them get back to their feet. It will also make handling their bills easier because they will be paying all of their debts to one financial institution and not to individual companies. It will help you not miss any due dates and save on the staggering interest rates per month. However know that the loan doesn’t erase any of your debt. You’ll still owe the same amount that you owed before. That amount will, however, change shape because of the interest rates. You also can lengthen the payment process of the loan. There are a variety of circumstances that may make it a smart choice.