Consolidating credit card debt information online

If most of your liabilities include other types (tax debt, unpaid child support or old parking tickets, for instance), these plans won't help.

Second, you should be confident that you can pay not just for a month or two, but for years.

Plug the numbers into a good debt repayment calculator to know how long it will take to become debt free.

Pay more to the accounts with the highest interest rate, and when one is paid off, add the payment the next most expensive debt.

With a debt management plan, you make one payment to the credit counseling agency, which distributes the money to your creditors until they are paid in full.

However, if you just happen to have accounts with creditors that don't offer any concessions, that benefit is reduced. Look for a nonprofit credit counseling organization that belongs to either the National Foundation for Credit Counseling (NFCC) or the Financial Counseling Association of America (FCAA).

On the other hand, most people who go into a DMP do so because they're already stumbling and missing payments, so making timely and consistent payments through the service can help their reports.

If you have too much cash left over, you're better off managing the accounts on your own. You never have to wonder how much you should be paying each month, as it will be the same amount until all creditors are satisfied.

Compare loans for debt consolidation and learn about your options for consolidating debt.*Annual Percentage Rates (APR), loan term and monthly payments are estimated based on analysis of information provided by you, data provided by partners, and publicly available information.

All loan information is presented without warranty, and the estimated APR and other terms are not binding in any way.

Benefits: Interest free periods on purchases do not apply if you do not pay the Closing Balance (or, if applicable, the 'Closing Balance' less instalment Plan and Buy Now Pay Later plan balances) shown on each statement of account in full by the applicable due date.

Payments to your account are applied in the order set out in the ANZ Credit Cards Conditions of Use (PDF 468k B).

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Also, while a DMP is not factored into a credit score, some creditors note that you're paying through a third party, which can be a red flag to a lender or anyone else looking at the report. It shows that they need help paying their bills," says Stuart Davis, a senior loan consultant for Princeton Capital out of Los Gatos, California.

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