It is a process of clearing off other debts by taking out a single loan. One single larger debt can be collective debts of multiple small or big debts. Debt consolidation can be secured or unsecured. Your all worries of not paying credit card debts or other loans can be cleared with debt consolidation.
By opting this option, you can enjoy financial freedom to live your life the way you want. Customers can opt for lower interest credit cards, specialized student clearance programs or other small debts clearance options. Just pay single monthly payment of debt consolidation in spite of making multiple monthly payments. Banks, credit unions and other specialized organizations provide the service of debt consolidation.