1. Consolidating Your Debts into your Mortgage.
2. Consolidating your high interest unsecured debts into a single Personal Loan
3. Informal Debt Arrangement
4. Debt Agreement.
5. Bankruptcy

Debt Consolidation is the process of consolidating a number of high-interest debts into a single loan with lower interest rate and repayments.

This is achieved best with Consolidating Your Debts into your Mortgage.
If you are a home-owner with equity in your home, you can enjoy instant savings by consolidating your unsecured debts such as credit cards, personal loans into your home loan. Thereby you are able to spread your repayments over a larger number of years and pay home loan interest rates on other unsecured debts.

If you are not a home owner you are able to enjoy the benefits of debt consolidation by Consolidating your high interest unsecured debts into a single Personal Loan with a lower interest rate. In some cases it may be possible to consolidate your debts into a secured loan such as a car loan. However in most cases one of the requirements here is a reasonably clean credit history.

Informal Debt Arrangement is another available Option.
Under this option you contact your creditors and attempt to negotiate a different payment plan to the one you have in place under your credit contract with them.
If they accept your proposal then this will reduce your monthly payment obligations and help you pay off your debts.

If your credit history is a problem your only Debt Consolidationn option may be a Debt Agreement.
Debt Agreement is a legally binding arrangement with your creditors. It is a negotiated and documented compromise with your creditors and could result in you needing to repay less than the full amount owing to your creditors. One of the implications of a Debt Agreement is that your credit history will reflect this arrangement.

Bankruptcy is a legal status offering protection from further action by creditors whose debts are `provable in bankruptcy'. Bankruptcy should only ever be considered as a last resort.