Debt consolidation loan is a key component to help you better manage your debt. The goal is that you want to get your debt paid off sooner than later and the best way to accomplish this is to stop paying high rates of interest. You will find that if you get a loan and negotiate a lower rate you will save money and get your bills paid off quickly.Many banks offer debt consolidation loans so make sure you check several before signing up. You of course will need to know how much money you owe on your debt so you know what amount to borrow. The key again to getting your credit card debt paid off in a short period of time is a low interest rate.You have to remember that most credit card companies charge large amounts of interest so for you to benefit from getting a debt consolidation loan in the first place you need a low rate. Most banks are competitive which will help you in securing a rate that will suit your needs.There can be a large number of reasons that you have got more debt that you can handle. It may be as simple as you do not make the money you used to make and those charges that you made are catching up to you. If you have this situation then act fast so that you do not have to keep giving your credit card companies more money than they deserve.Remember getting out of debt is not rocket science but you need to get a debt consolidation loan with a low rate. Shop around before making a final decision and always look for low rates. The lower the rate the money money goes into your pocket.