Debt consolidation loans may not always be the best or most useful financial move to make.

If all of your current loans/debts are incurring interest at a lower rate than that of the debt consolidation loan then you may be moving backwards by applying for a debt consolidation loan (although you would just have one monthly repayment).

Also, a debt consolidation loan (which is essentially a personal loan) can be harder to get if you have a history of bad credit.

If that is the case you may wish to look into other options such as a debt agreement (which is a compromise negotiated with those people to whom you owe money so that you can eliminate your debts over time).

There are some companies that specialize in providing those with bad credit debt consolidation loans.

Some of these companies also will be happy to give you information on the other alternatives like those mentioned above.

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