Hi, I have a lot of personal loans applied last year and before. Managing everything is getting complicated and hard to calculate and budget. I want to reduce the debts and dependence on credits this year. This lead me to think about getting a debt consolidation loan. This will allow me to pay off all the different loans with varied rates and have just one loan. I read about it and found that I may have to use my house as a collateral. http://www.mortgagesmortgages.ca/mortgage-options/debt-consolidation/ But, the combined money I borrowed don't add up to the value of my house. So, would it be a good idea? Has anyone taken debt consolidation loan? Has it helped you save money?