Think you might need a debt consolidation loan?

The first step toward taking control of your financial situation is to do a realistic assessment of how much money you take in and how much money you spend. Start by listing your income from all sources. Then, list your "fixed" expenses Ñ those that are the same each month Ñ like mortgage payments or rent, car payments, and insurance premiums. Next, list the expenses that vary Ñ like entertainment, recreation, and clothing. Writing down all your expenses, even those that seem insignificant, is a helpful way to track your spending patterns, identify necessary expenses, and prioritize the rest. The goal is to make sure you can make ends meet on the basics: housing, food, health care, insurance, and education.

The best advice is to compare different loan programs to find the one that's best for you. Keep an eye on the fees. Take notes, and compare, compare and compare again. Then you'll make a smart decision.