Millions of Americans are currently suffering from out of control debt. With things such as the average cost of living, tuition fees, interest rates, and housing prices on the rise, it’s no surprise the average American has 5 credit cards in their wallet. But luckily there is help out there to escape from the perils of debt, once and for all. A debt consolidation loan could be just the help you need to get back on your feet and eliminating your high interest debts.Getting Started with Debt ConsolidationMore and more people are turning to debt consolidation for assistance in the battle against debt. A debt consolidation loan works by turning all of your previous high interest debts into one lower interest loan. By lowering your interest rate you will be paying less every month – often several hundred dollars less! This saved money can then be applied to paying off the principle of your debts, eliminating your debt permanently.There are a sea of debt consolidation lenders out there, and they are all claiming to have the lowest interest rates and most favorable terms, but who can you trust? Who is really going to save you the most money? Luckily there is a very simple way to determine this; comparing free online quotes. By comparing free quotes, you will not only be able to see how much money debt consolidation can save you, but you will also see which particular lender can save you the most.Don’t Forget To Do Your HomeworkThe more you know about debt consolidation, the more money you will save. It’s that simple. The internet offers an array of knowledge on debt consolidation, all you have to do is find it. By learning about debt consolidation you will be better equipped and feel more confident in your search for the best consolidation loan. Read reviews, check with the BBB (Better Business Bureau), and get as many free online quotes as you can.