A Debt Consolidation is a kind of personal loan that allows you to consolidate all your debts into one.

For example, if you have five credit cards, you may be able to eliminate by getting a Debt Consolidation loan to pay off the credit cards, so that you only have one monthly payment for all your debts.

Normally your  Debt Consolidation loan have a lower interest rate than the rate you are paying on credit cards and extended terms of period, so the loan should reduce your interest  and monthly payments.

Unfortunately If you do not have a good credit record, It would be another challenge to get consolidation loan.

But if you have some assets or equity in your home/house then you can apply for re-finance or second mortgage.