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Debt consolidation credit counseling Debt consolidation is a primary service of consumer credit counseling. It involves the combination of all debts incurred into one debt. This means that a consumer can focus on one debt instead of monitoring several debts. This one debt, through the negotiations between the credit counseling agency and the creditor, is paid monthly by the debtor. The monthly bill is set at the lowest interest rates possible. In this manner, one monthly payment will eventually pay off all the debts. The only thing that the consumer must do is to never incur another debt while the debt consolidation process is underway. Once debt consolidation is completed successfully, the consumer will have his credit rating improved |