If you need to get control of multiple debts, we are here to help. Our consolidation specialists are committed to helping you find the best loan for your needs in a timely manner. Take command of your financial future. Debt consolidation consists of taking out one new loan to pay off multiple debts. In other words, you are replacing multiple loans with one loan. If you pay on time, your payment amount would be the same every month, making it easier to budget.