You can consolidate your debt into one monthly payment through either a consolidation loan or debt relief. The steps for using a consolidation loan using the companies in this review are as follows: Tally up the payoff loan amounts for all your debt, including loans, lines of credit, and credit card balances. Do not include a secured loan. Prequalify for a personal loan by filling out a loan request form from one or more of the online lender matching services, noting the amount you wish to borrow (equal to the payoff amount calculated in the previous step). Complete the application process with the lender recommended by the matching service. You should receive a decision instantly. Sign the loan agreement after reading and understanding all the loan term details. After your loan proceeds are deposited into your checking account, pay off each of the loans you’ve included in the consolidation process. You can do this by writing checks or through online electronic funds transfers. Set up automatic repayment of your consolidation loan from your checking account so you never miss a monthly payment. Do not incur any new debt until you’ve completely repaid the consolidation loan. If possible, prepay the loan to save interest.