Consolidating your debt may seem like a great solution for the short term, but unless you can stop charging up your cards, this will only be a stopgap rather than a cure. Debt Consolidation is merely putting together all the debts that you currently owe into one loan. If you consolidate your accounts and then start charging on those again, you may end up with more debt than you can handle. As soon as you consolidate your accounts, stop using your charge cards. If possible, cut up the extra ones and keep just one or two for in case of emergencies.