How much debt consolidation costs you will largely depend on what type of debt consolidation you will be utilizing.
If you’re going with a debt consolidation loan, the cost of your debt consolidation is usually covered in the interest rate you pay, and in the long run you’re actually saving money if the interest rate of the debt consolidation loan is lower than the interest rates you’re currently paying.
If you go with a debt counseling service that consolidates your debt for you, you may be asked to pay a nominal fee each month. Usually, these fees will range from $10 to $20 each month depending on the amount of your debt and which counseling service you decide to go with.
If a company asks for a lump sum of money up front or unusually large fees, you might want to take your debt consolidation elsewhere.