Many Canadians struggle with credit card and other types of consumer debt. Some are even stuck in a cycle of opening one credit card to pay off another. In some circumstances, debt is racked up as a result of dealing with unexpected expenses such as home or auto repairs, illness, joblessness or divorce. With soaring interest rates, it is easy to become buried under consumer debt. Most Canadians that pay only the minimum on each credit card bill are knowingly or unknowingly extending the life and cost of the debt. An unmanageable amount of debt can be very frustrating – especially when you start to feel discouraged about ever paying it off. There are, however, some ways to improve your debt situation and get you closer to paying everything off. Debt consolidation is a great way to make multiple credit card and other loan payments easier and reduce your interest rates at the same time.