If you are looking for debt consolidation, have you asked yourself whether or not you’re a good candidate for it? Maybe you should. It’s not for everybody and knowing when it’s right and when it’s not can save you some real headaches.

It’s true there are many people who are great candidates and can benefit from getting some debt consolidation. If you’re bogged down with debt and it’s spread out everywhere with different interest rates on everything, then you might benefit. If you are able to secure a loan for yourself at a lower interest rate, then you still could benefit. If you happen to be in emergency mode and need to pay something off really quick, again, you might be right to look for one. In that case home equity loans work well too.

But if you still want to go ahead with debt consolidation, then you have to know you are capable of carrying it through, and if it will help you stay out of debt down the road. You should figure out if you are willing enough to properly research this loan and do what it takes to get the best deal for yourself. This is a time when you really have to be totally honest with yourself. If not, it’s probably a real waste of time.

You never want to get into debt consolidation deals when you are undisciplined. It doesn’t do you any good to consolidate all your debts only to find extra money and rack up more debt going on a spending binge. People do funny things once they get the credit card debt off their backs, and then end up in a hole that’s even deeper.

If you really make enough each month to pay your bills off but don’t, you probably are a bad candidate and should think twice. You’d be better off locating someone who can help you with budgeting. You can even let someone do the bill paying for you while giving you a steady allowance.

And if you aren’t making enough each month, then what makes you think debt consolidation is going to help? This is good time to seek out somebody for help like in the ‘Consumer Credit Counseling’.  They are good help but they make you cut up your credit cards. That’s a big step for a lot of people.

So you see that a lot of thought needs to be put in before taking the step of debt consolidation