Everyone knows that having a debt consolidation is a very common debt management tool these days.  All the persons who want to achieve debt relief have some options: a Debt Consolidation, a debt settlement.  If you decide to have a debt consolidation, try not to consolidate your older loans into a long term debt consolidation loan.  It is true that the monthly payments are smaller at the long term loans, but at the same time you have to pay more interest because there are more months involved.  It is like a vicious cycle.  Even if you have to make smaller monthly payments, you can’t afford to pay too much time interest.