Debt is considered being "in the red," but for most consumers, the clouds hovering over their heads feel black. The burden of debt can weigh down even the most optimistic person. There's hope, however, if you follow a few simple debt consolidation ideas.

A mountain of debt is the slippery slope of the financial world. You'll slip and slide as you try to figure out a way to make monstrous interest payments and chip away at principal at the same time. It's a long, uphill climb, and often, it seems like there's no way you can get to the other side.

Don't give up. You can climb over that mountain of debt if you follow a few simple debt consolidation ideas.

Idea #1: Use common sense

Before you jump at the first debt consolidation offer that a lender makes, be sure that the maneuver makes sense. If you're consolidating a number of credit cards, for example, take a close look at the interest rate on your prospective debt consolidation loan. It must be lower than the rate on the credit cards for it to make any sense.

You'll also want to consider the term of the debt consolidation loan. If you're refinancing debts to a 10-year term or greater, carefully analyze how much money you'll be spending in long-term interest. If you think you can zap a credit card balance in five or six months by aggressively paying it down, it may make far more sense to do that than to consolidate your debt into a 10-year loan.

Idea #2: The benefits of a second mortgage

There are many financial vehicles you can use to consolidate your debts. One of the most effective is a second mortgage, such as a home equity loan or a home equity line of credit (HELOC). The interest on both loans is tax deductible. While the rates for a second mortgage tend to be lower than credit cards, the rates on a home equity loan are fixed, while a HELOC's rate fluctuates. Carefully analyze which type of interest rate you'd be comfortable repaying.

Idea #3: Look for alternative methods

If you can't get a second mortgage, there are a number of different alternatives to consider. One method is a credit card with a zero-percent balance transfer rate. You can use this card to park your debt, interest-free, for a period that generally ranges from six to nine months. Another choice is to ask friends and family for a low-interest loan. Although a humbling experience, it may be just what you need to get back on your feet. You may also want to consider using the services of a credit counseling agency.

The prospect of scaling a mountain of debt seems impossible, especially if you haven't begun the climb. However, by picking a solid strategy, you can get a toehold. With discipline and hard work, you'll eventually reach the peak of being debt free. No longer in the red means you won't feel blue.