One way to deal with bad debt is through consolidation. By combining multiple debts into a one loan, the borrower can enjoy a single and reduced rate of interest, lower monthly payment, and freedom from stress of dealing with so many creditors.What does it take to be successful in debt consolidation? In this post, let’s discuss essential pointers that will lead you towards complete debt freedom:Recognize the problem.Some people choose not to do anything about their debt problem. Instead of finding an appropriate solution, they simply wait for their creditors to tire out. But the problem will not go away by pretending that it doesn’t exist. On the contrary, ignoring your debts will only lead to more serious problems.The first step in towards debt recovery is to be aware of the exact situation. Order a copy of your credit report and examine the status of debts. See to it that there are no errors or unauthorized charges in any of your accounts. If you find that some charges are inaccurate, exercise your right to dispute them to the bureau that issued your report.Calculate your total debts so you can have a better idea as to how much you owe. But don’t let the figures discourage you from taking the next step forward. After checking your accounts, you will be in a much better position to plan your debt repayment strategy.Remember, debt consolidation is only the first step.Acquiring a debt consolidation loan is only the first step. After using the loan to pay your creditors, you will still have an obligation to pay your debt consolidation lender. You will only be truly free once you have finished paying the loan you used for consolidating.Plan your repayment.Now it’s time to plan your repayment. Separate your unsecured debts from your secured debts. This way, you can distinguish your priorities. For example, you can consolidate your credit card debt using a a credit card with a zero interest rate on balance transfers.It is a good strategy to focus on paying off debts with the highest rates of interest first. Keep in mind that your debts will build-up more quickly due to the rates alone. By eliminating these debts out of the way, paying the rest of your debts will be much easier.Adjust your lifestyle.You will need every cent you can save to pay off your debt consolidation loan. You need to find practical ways to save money and reduce your monthly expenses. This could mean giving up some of your personal whims or luxuries. For instance, can you give up your magazine subscriptions while you work on paying your debt consolidation loan? If you presently have two or more magazine subscriptions, it would mean saving at least $30 – $50, a significant amount which can contribute to your debt repayment.Can you subscribe to a lower cable or internet plan? Perhaps you may also consider switching to a prepaid phone plan instead of paying the monthly flat rate. Do you usually buy a new piece of clothing every payday or every few months? If yes, you may skip on making such purchases as you work on paying your debt consolidation loan. Rest assured that your effort and hard work will pay off after success debt consolidation.