Secured Personal Loans
If you own a home or a vehicle title you can get a secured personal loan in order to cancel your debts. You can take advantage of your home equity too by applying for a home equity loan. These are of course the best options with low interest rates and fixed terms. If you already have a mortgage on your home you can refinance it in order to get extra cash and maybe even get better loan conditions.

The drawback is that secured loans require collateral so if you fail to pay you would be risking loosing whatever asset you offered in order to secure your loan. However there still are some options for getting out of debt if you dont own a home or vehicle or if you are not willing to use them as collateral.

Unsecured Loans
Unsecured loans do not require any collateral in order to be approved, however interest rates are a lot higher and the length of the loan shorter. Unsecured loans are also hard to get, you will need to prove you have a good and long-standing income and a good credit too. There are unsecured loans for people with bad credit, but the interest rates tend to be extremely high, almost in the edge of being abusive. If you have bad credit and can offer collateral in order to get a secured loan, youll be much better off that way.

Nevertheless, unsecured loans are a much better option than using credit cards for finance. Credit cards have higher interests and spending can easily get out of hands. If youre unable to get a consolidation loan, either secured or unsecured, it would be clever to transfer the credit card balance to the lowest interest credit cards and canceling the rest of them.

Credit Counseling Agency
You can always resort to an agency, credit counseling agencies are prepared to negotiate with your creditors and lenders for you and they will be able to reduce the interest rates you pay for your credit cards and outstanding bills. Once this process is completed you will have to make just one payment to the agency which will take care of the rest. You must commit not to get yourself into more debt and control your spending in order to keep yourself on the right track.

As you can see, there are many options for consolidating and eliminating debt. You just need to be patient since this process may take five or more years if you have a considerable amount of debt outstanding. But once youre on a budget and take control on your income-spending rate you will be able to succeed and being able to sleep is well worth it.