Credit card consolidation loans used to be the standard way that people consolidated credit card debt. It was rolled into your mortgage and you made one payment each month to cover what used to be several consumer accounts. This is not a bad debt relief option as long as you make your payment each month and stop using your credit cards. You can even deduct the interest paid on a secured loan.

The problem comes when you cannot make your payments. The consequences are much more severe than harassing collection calls. You could lose your home to foreclosure. The other problem is with the available credit on the credit cards that were paid off. It can be very tempting and many people cannot stay away from it and will use it. That will give you both a loan payment and credit card payments.

Consolidating credit card debt can be done with a nonprofit debt management program. These plans will consolidate your unsecured debts and there is no loan needed. There is no credit check or home ownership needed making this program ideal for almost anyone that wants help with credit card debt.