Consolidating debt is an option for those who are facing several debts and are falling behind on their payments. For those who are over their heads in debt, the first thing they should do is change their spending habits. This means cutting up all credit cards and only shopping with a prepaid money card. No loans or further financing should be pursued. After putting a stop to accumulating debt it’s time to reduce the amount of debt you have. Debt consolidating programs take several of your payments to separate your debts and combine them into one payment, usually a lowered payment after negotiations with creditors. It is important that if you choose a debt consolidation program you make sure you are not being charged several of ridiculous fees on top of your payment.