Debt consolidation loans are financial provisions. They pay off your outstanding dues in a systematic manner. Your multiple debts include high-interest balances on a multitude of credit card bills, etc. by the consolidation process you transfer the balances to a 0 % on credit card, or a home equity loan. The reason for this is simple accumulating debt is a habit and it is an exceedingly tough habit to break. If your tendency is to overspend, chances are that you will continue to take out loan in the future also.There are certain things however, you should know before you go for debt consolidation loans. You can begin it by collating entire of your debts into a single entity. You can start from high rate loan down to low rate loan and so on. With doing so, you could save a good amount of your time and energy. It is quite convenient and a real time-saver. They enable you to pay off your debts with a single payment every month. You can also get the best rate at a high street lender rather than at any commercial institution i.e., bank. Further, you can shop around for the best possible rates as well. It can be done by comparing different lending options.If you need debt consolidation loans, it is likely that you will not qualify for the lowest possible interest rates. But there is always possible for that. Quarters of lenders are out there in the money market in this prospect. You can even take assistance of a financial expert also. He will do every of the loan processes on your behalf. In return of that you will have to give his/her service fees also.At the end of a certain period of time, you pay off your multiple debts. If you end up even paying the minimum on your debts, it will be a bit difficult though, but possible to pay them off any time soon.