There are multiple debt relief strategies worth exploring now. Here's what experts recommend borrowers do next.

Our best overall choice for debt consolidation is LightStream, which offers some of the lowest advertised APRs and loan amounts of up to $100,000. Best Egg and Upstart also offer competitive choices for debt consolidation. However, before you choose, compare the best debt consolidation loans to determine what works best for you.

With the expiration of pandemic-era relief measures, borrowers are struggling to make payments and keep up their credit scores. Trump’s “Big Beautiful Bill” will make it even harder for future borrowers.

One method involves taking out a personal loan from a bank or credit union and using those funds to pay off credit card balances or other high-interest debts. However, Paley warns borrowers to check the interest rate on the new loan first and make sure it’s lower than what they’re currently paying.

Debt consolidation loans are offered by credit unions, online banks and other financial institutions. They come with strict repayment terms and can generally be paid off in two to seven years.