Credit card debt is widespread among the average American household and finding ways to consolidate it usually means tapping into the equity in your home or seeking a personal loan to service the credit card payments.

For many, obtaining and managing a loan can seem cumbersome, no matter how necessary. The application and approval process can take a significant amount of time. Paying off your loan can seem far away in the future. And taking out a loan sometimes means you’re adding to already existing debt.