Credit cards are the major reason people file for bankruptcy. They have high interest rates and it seems impossible to get them paid off. Another reason for bankruptcy is from when you borrow money. You will have interest rates with loans too. This interest could be high at times. When you are in debt and need help you can consider a debt consolidation loan. This time when you borrow money your interest rates on the loan will be very low. The consolidation loan will pay off your debts and you will be left with one monthly payment that you can afford. Try not to borrow money for purchases since this leads to debt. If you do end up in debt and you are thinking about where to borrow money, try the debt consolidation loan to get out of debt. You could also use a debt management plan to get out of debt. This will lower the interest rates on your loans and credit cards making it easier for you to pay off your debts. An IVA is another choice that works to pay debts and get back on your feet.