There are a number of internet based sites that will allow you to put in your figures and will then spit out the answer for you. Be prepared for a shock though! It's almost certainly going to be far higher than you first imagined. Once you've got that figure you need to work out the cost of your consolidation loan. It's not just the jargon and terminology either there are all the various abbreviations that are sprinkled around like confetti to think of as well. Of course part of the reason is the undoubted complexity of stocks and shares but there is just that sneaking suspicion the new investor will have that it is to keep the uninitiated out too. The best source to do the research is definitely the Internet, where you get information not only from the websites of the financial institutions that provide the CD products but also from the various blogs and forums where people discuss about CDs and which of them are the best. Since these are real user comments, they could be very helpful for you in deciding the best CD products. Now I guess at this point you're thinking hey, I could do that myself. Well, yes, you could and you may succeed. But I'll wager that a credit counselling service can do the job better. And what I mean by better is that they will get you a lower repayment schedule. Why? Simply because they have more clout and credibility than you would have as an individual. Then do a similar calculation with your outstanding credit card balances taking the monthly minimum payment. That's usually about 5% but check, your card might be different. If you feel the difference will be worth it for you then start shopping around for the best interest rate and term you can find. So the first question I guess you've got is if you qualify for debt consolidation. Poor credit isn't necessarily a barrier to you getting a loan to consolidate your debt as the companies understand your situation. There does though have to be an explanation when you apply for a loan for debt consolidation.