One of the best ways to find to consolidate your debt and get clear of the payments that you need to make every month, or at least lower them is to get a loan that puts all your payments in one place. Getting a loan to help you get clear of some of the monthly payments that are dragging you down and keeping you from getting a more secure financial future may not be as difficult as you think.In an uncertain economy, making your payments more manageable is everyone’s goal. Both private companies as well as governments are helping citizens to find a way to get their monthly payments lowered. In many cases this means that they will take out some type of loan to get all of those payments in one place.How does the consolidation process work to help lower your payments? Putting all of your payments in one place and getting rid of some of them will help you to get free of extra debt in several ways. You are currently paying higher interest rates on multiple cards if you are anything like most people. Each of these payments bears it’s own interest rates and most are higher than that of a loan.If you consolidate the multiple payments, using the money that you receive to pay off all of these cards, then you owe just one payment per month. Depending on the interest rate that you get for the loan, the payments will be much less than the combined payments that you used to pay. If you were paying even 10 percent on each of five different cards, and your loan is only ten percent, then you are saving the interest rate of ten percent four times, and paying it just once.It’s easy to see how a loan to consolidate your bills all into one payment might be the easiest way to get out of paying an outrageous amount each month and pay one single payment that you can afford more easily.Many people feel that a loan will adversely affect their credit rating. The fact is that in some cases it can actually save your credit and give you more options. If you are behind in even one payment and can pay it off and make the payment on your new loan, you’ve avoided getting further bad marks on your rating each month.