You can consolidate nearly every type of consumer debt, including medical debt, personal loans, credit cards and student loan debt. However, consolidation loans aren’t an immediate fix.

The NFCC reports ... the Journal of Consumer Research found that people using the debt snowball method were likelier to eliminate their debt entirely. Your choice between debt consolidation ...

If you do it right, debt consolidation might slightly decrease your score temporarily. The drop will come from a hard inquiry that appears on your credit reports every time you apply for credit.