Debt consolidation is combining multiple debts into a single payment, with lower interest rates. You can consolidate your debt by using a personal loan or line of credit, or utilizing a debt management or counseling company , whom will negotiate with your creditors on your behalf to lower your interest rates which will lower your monthly payments, or negotiate a settlement amount both you and your creditor will be satisfied with. Using a debt consolidation program depends on the individual and their specific financial situation. What is your take on debt consolidation companies? Have you used one, and if so, did it benefit you in the end? If you have not used a debt consolidation company and created your own debt management portfolio, what are some strategies, techniques, or advice that you can share with others on how you've successfully managed your debt?