A common trap to fall into is paying the minimum amount each month for each debt. If the debts incur interest and you only ever pay the lowest amount possible, you will never be rid of them. You do have many choices to be free of your debts, and debt consolidation is certainly worth considering.
Your current monthly payments can be reduced, sometimes quite significantly; however, there is the argument that the greater the reduction the more likely the overall amount you owe will increase. Would you rather continue paying the minimum amounts every month, which doesn't even equal the interest incurred; or would you rather reduce your monthly outgoings, giving you room to breathe?
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