Consolidating your debts could be the key to getting your finances under control and getting out of debt. Basically, debt consolidation involves paying off all of your creditors with just one loan. Preferably, the loan that you use will have a much lower interest rate. Then, not only do you not have to worry about collections calls, but you can reduce the amount that you'll pay in interest. The monthly payments are often lower than if you added up all of your bills separately. There are a lot of companies out there that offer debt consolidation options, but you might feel most comfortable if you work with a company that you have heard of and that you feel you can trust. Discover is a well-known brand that can offer you a low-interest line of credit or credit card, which you can then use to consolidate all of your debts and take back control.