Debt consolidation won’t work if you have too much debt or haven’t fixed underlying spending issues.Almost all lenders require you to be 18 years or older and a legal U. resident with a verifiable bank account and not in bankruptcy or foreclosure.Borrowers with excellent credit and low debt-to-income ratios may qualify for interest rates at the low end of lenders’ ranges.Someone with poor or average credit may be able to get an unsecured personal loan on the strength of a steady income and low debt levels, but should expect rates toward the higher end of the range — up to 36%.Debt consolidation loans allow borrowers to roll multiple debts into a single new one with fixed monthly payments and, ideally, a lower interest rate.Compare loans for debt consolidation and learn about your options for consolidating debt.Such cards have an introductory 0% interest rate, which increases after a promotional period, usually no more than 21 months.

Fixed payments ensure you’ll pay off debt on a set schedule.

If your loans are around 3% or less, there's not much sense in paying them off early, says Ryan Fuchs, a certified financial planner at Ifrah Financial Services.

"That is right around inflation and you can likely get a better long-term return elsewhere," Fuchs says.

Nerdwallet has reviewed more than 25 lenders to help you compare and choose one that’s right for you.

Below is a list of Nerdwallet’s top lenders for debt consolidation. If you’re borrowing money to pay off debt, a personal loan works best if you have a plan to tackle your debts.