You can consolidate debt without even owning a home. Whether it be help through a debt consolidation or credit counseling service, or just good old fashioned budgeting and financial planning, it can be done.We as Americans’ are saturated with debt. Most of us experience financial crisis due to factors such as illness, job loss, or simple debt mismanagement. You can turn your life around if you know your debt management options and learn how to pay off debt fast.Here are your top options for a Debt Consolidation Loan Without Owning a HomeIf you do not own a home with equity, you can:1. Obtain Credit counseling from a reputable firm2. Learn to budget to reduce debt and stick with that budget.3. As a last resort you may consider bankruptcyDebt Negotiation is another option that may work for you. Debt Negotiation is not consolidation. It is working with your creditors for an easier payment plan, asking for hardship assistance or negotiating a total payoff at a lowered settlement amount than what you owe to zero your balance. This will depend upon the amount debt you have, and if you have the money to pay off the negotiated settlement. It may also be wise to seek out the guidance of a legal counselor or financial planner. They can help you devise a good budget and action plan.If you DO own your own home with equity you may have access to an equity loan or a home refinance loan, which is great news!Here are your top options for Debt Consolidation if you DO own your own home: If you have equity, utilizing it to pay off bills is probably the best way to lower your debt. This is because mortgage rates are typically drastically lower than any other type of loan. It is possible to lower your credit card rates by consolidating debt through a cash out Refinance Loan. It’s easy to borrow the equity from your home to consolidate debt. A new loan on your home is, in my opinion, one of the best options.Good Advice: Understand your financial status first. If you are not able to make slightly higher mortgage payments you could have more financial trouble down the road. See that your situation has improved permanently or that you have a solid budget in place and will be able to stick to it. You want to get out of debt, not delay it to face it again in the future.Home loans may provide you with tax advantages that other types of loans will not provide. They also can pay off all of your debt in one shot if you have enough equity. The bank can pay off your debts by rolling the debt amount into your mortgage with typically lower interest payments. Consult with your mortgage professional to find out if your payments will actually be lower. Compare the new payments, with all the payments you are making now and you may have a clear choice.Before making a decision it is important to get informed, know all of your options, finally stop the phone calls and regain your peace of mind.If you want to get the groundwork started on your own whether you own a home or not, you may want to take a shot at reducing your debt to a manageable amount. Here are some tips on how to negotiate with creditors and collection agencies Before you choose the best option to consolidate your debt, why not work with creditors to negotiate a smaller payoff.