Debt consolidation is a great tool because it allows for people like you, who are overwhelmed by their debt, to combine all of the unsecured credit bills that you pay each month into just one bill. When you consolidate like this, or combine the bills, you are effectively reducing your interest rates. This is a good thing, because when you reduce your interest rates you are lowering the total monthly amount that is due, and now you just have one creditor to worry about paying off instead of many. The reason that this works for so many people is that it gives them a chance to get out of a bad situation without damaging their credit or declaring bankruptcy. The process usually involves the help of a certified debt repayment representative.Credit is a tricky thing and before a lot of us realize it, we are in over our heads and we don't see a way out. There is always a way out, even if you feel like you cannot possibly pay off all of the credit that you have in your name. Many consumers who are overwhelmed by their debt are turning to debt consolidation for help.