What Debts Can Be Consolidated?

Technically you could consolidate any type of debts you have. If you can get a loan that's big enough to cover them, just pay them off, start paying on the new loan, and you've consolidated. That said, just because you can do something doesn't mean you should, so here's a few things you may want to consider including in your consolidation plan.

Credit Cards:
Most people get anything but the best rate when it comes to credit card interest. Department store credit cards charge as much as 30% annually, and 20% or more for "normal" cards is more common than it should be. It's exactly those kinds of high interest rates you should be looking to get rid of, so plastic is usually at the top of the list.

You should note however, that you need to be very careful not to wipe away your credit card balances only to max out your cards again over time once paid off. This is a recipe for disaster, as you'll be back to paying that high interest every month and now paying an additional loan off as well. Once they're paid off, consider closing any credit accounts you have but don't need. A single credit card can be helpful for emergencies and other things like online ordering, but be careful not to slip into old habits, and don't charge more than you can afford to pay off in full when the bill arrives.

Medical and Legal Bills:
Both can come up unexpectedly, and both can have hefty carrying costs. Falling behind on payments to legal professionals isn't usually much fun on top of that. Interest rates aren't usually as bad as credit cards, but they can be depending on who is owed.

Old Service Bills:
On top of high interest rates, service company late fees can be exorbant, and getting too far behind can make life at home pretty tricky at times as well.

Tax Debts:
No-one's allowed to charge more interest than the IRS - and few can make your life more miserable if you fall far enough behind.

Of course, that's really just the tip of the iceberg - any time you're carrying high interest debt you've got a possible candidate for something to consolidate. Some more examples might include department store credit cards, collection agency debts or even those old student loans. You'll notice that most high interest debt is unsecured, so think about other debts you have that aren't held with collateral and you might find some more examples of your own.