Debt Consolidation Options Compared

The main debt consolidation options are: personal loans (fixed rate, fixed term, best for $5k–$50k of debt), balance transfer credit cards (0% intro APR for 12–21 months, best for smaller amounts you can pay off quickly), home equity loans/HELOCs (lowest rates but your home is collateral), debt management plans through nonprofit credit counseling (negotiated rates, no new loan), and 401k loans (no credit check but risks retirement savings).

Each has different eligibility requirements, costs, and risks..