You have heard that debt consolidation is a really good way to get out of debt and you want to try it out. Well, this is not something that you just want to try it out. The first thing that you will do before you can consolidate your debts is to go for debt counseling. It is important to make sure that you really do understand what you are getting yourself into before you take up this debt relief method. There is no denying that it is the best of debt relief methods for people who are pushed against a corner by debts.

When you go for counseling you will get a lot of insight into this process. You will understand from a more personal level. Reading the real life examples that are available online is good but it might not really help you understand it. Counseling is mandatory even if you have read lots concerning debt consolidation online. The merits of debt consolidation are just so many. It is a really find way to get out of debt and some of the merits that you will get to enjoy include:

1. Single Payment

Once you are approved for debt consolidation you will only be one single payment. Instead of making payments to several institutions you will be making just one payment every month. This is really helpful especially for those who have so many debts that they forget which ones they were supposed to make.

2. Stop Accumulating Debt

When you forget to make a payment you will be charged. When you send the money late you will still be charged. This is accumulating your debt and making things even harder for you. However you can stop this from happening by choosing debt consolidation agency. Read the debt consolidate reviews that are available online to get the best of them all.

3. Reduce Stress

Why should you worry about a creditor taking away one of your valuable assets or something similarly sad? The debt consolidation loans make life so much easier and hassle-free. With too many debts, you can never stop to take a breath. Once you make a payment to this creditor you have to start worrying about making a payment to the other creditor. You know as they say, a debt will never allow you to grow fat.

4. Lower Interest Rate

When you take up a debt consolidation loan you can be sure that you will be paying lower interest rates than if you pay each debt over a period of time. In essence you will be making a saving even as you pay your debts.

5. Credit Score Improves

Debt consolidation is probably one of the best ways to get out of debt without lowering your credit score. Quite on the contrary what happens is that your credit score improves. There are the other options of debt relief options like filing for bankruptcy or debt settlement. These will put a huge dent into your credit score.

These are just some of the very many merits of debt consolidation. When you consolidate your debts you are assured of an easier time getting out of debt.