If you want to decide if you should consolidate all your debt, such as credit cards, installment loans or car payments, into one combined monthly payment, your decision should be based on a few factors. Many times a debt consolidation using your home as collateral is a wise thing to do, and sometimes is can be a mistake. Or maybe you are considering taking on a loan using something else for collateral, such as a vehicle title, or possibly no collateral being used at all. In any event, you want to determine if this consolidation will help you or possibly cost you more in interest in the long run, even though you are receiving a lower interest rate on the new loan. By performing a simple analysis you will become more informed of the facts and should feel better about your decision.