Go in for a debt consolidation loan. This is advice heard very frequently when we talk debt relief. It is actually a very good solution for your unsecured debt. The genesis of the debt problem is actually much deeper than you think.It has been observed that over 70 percent of students hold 3 to 4 Credit cards. Once you start earning and have a regular income this figure is likely to increase even further. Now imagine, you are paying late fees, interest charges, taxes and annual charges on all these cards. This is reminiscent of a typical loss making company struggling to make payments to 4 to 5 clients. The inefficiency is more on account of holding an unmanageable number of accounts. The user in all probability will have only one source of income. Thus it does not require financial wizardry to make out that the debt can be managed better by consolidating it under one head.In case your overall debt is more than $10,000 it will better to go in for a consolidation loan. Take a stock of all the Credit cards that you hold. Go in for a balance transfer to put the debt under one head. It is much easier to manage one single monthly payment instead of 4 to 5 different payments. After consolidating your debt under one Credit card take a stock of the balances. Obviously it will be a huge inflated balance. You can then compare the monthly outgo on account of interest charges on the consolidated Credit card balance and the interest paid on consolidation loan. You will invariably pay less interest for the consolidation loan than the Credit card. Therefore it makes sense to go in for a consolidation of debt.Your consolidation loan can be paid back within 2 to 3 years on easy installments. The basic savings will result in reduced interest charges and minimal fees. Look for debt relief by debt consolidation.