Personal
Debt
Debt consolidation, repayment strategies, and credit card payoff guides — practical paths to getting out of debt at the lowest cost.
Guides
What to know before you compare
Debt management decisions turn on two questions: what type of debt you're carrying (revolving credit card vs. installment loan vs. student loan) and what your credit profile allows. High-rate revolving debt is usually the first priority — the average revolving credit card APR exceeded 20% in 2026 per Federal Reserve G.19 data.
The guides below cover consolidation tools (personal loans, balance-transfer cards, debt management plans) and repayment strategies. Installment debt keeps growing as an alternative to high-rate revolving balances: TransUnion's Q2 2026 Credit Industry Insights Report counted 33.3 million personal loans open nationally, up from 30.1 million a year earlier, with 6.4 million personal loans originated in the prior quarter alone. The CFPB publishes free debt-collection guidance and the FTC has consumer advice at ftc.gov. See our debt consolidation hub for a full breakdown of tools, or our personal loan picks if a consolidation loan is the right fit. Scored against ClearValue's published methodology. Updated September 2026.
Frequently asked questions
What is the best way to pay off debt?+
Two evidence-backed strategies: the debt avalanche (pay minimums on all debts, direct extra dollars to the highest-APR balance first) minimizes total interest paid. The debt snowball (pay off the smallest balance first) generates faster early wins that can sustain motivation. For high-rate revolving debt, a balance-transfer card at 0% intro APR or a debt-consolidation personal loan can reduce the interest cost while you pay down — but only if you stop adding new charges. See is a personal loan worth it for debt consolidation for the break-even math.
What is debt consolidation?+
Debt consolidation combines multiple high-interest balances into a single new account — typically via a personal loan or balance-transfer credit card — at a lower blended interest rate with one monthly payment. It simplifies repayment and can save money, but it works only when paired with a plan to stop accumulating new debt. The CFPB and FTC both offer free guidance on evaluating consolidation options — see our debt consolidation loan picks for how the leading lenders compare.
How does debt consolidation affect your credit score?+
Opening a new loan or card triggers a hard inquiry and temporarily lowers average account age — usually a small, short-term dip. Over time, consolidation can help by reducing credit-card utilization and supporting consistent on-time payments. The outcome depends on behavior: keeping old cards open and paid down after consolidating generally helps, while running balances back up reverses the benefit. See how to get a personal loan for what lenders check during the application.