You will also need to know that there are actually two major types of credit card consolidation.

First is through a Credit Card Counseling firm. They assist consumers by consolidating all their monthly payments into one single payment and then separate this to the creditors in behalf of the consumers until they are debt-free.

Second type is through a home equity loan or other secured loan. This is done by exchanging an unsecured debt (such as credit card debt) for a secured debt (a debt backed by specific assets such as real estate).

Credit card debt consolidation is not going to relief you from all you credit card debt problems but it will make your life easier to pay debt and help you to save money in the long run.