One thing you do need to know is that there are many of these companies that do not charge you for the services, since they are non-profit.
Others may charge a fee according to the amount of money you owe.
You do need to remember that your loans officer at the bank can also give you advice about consolidating your debts as well.
You do need to be careful when selecting a company to deal with for your debt consolidation.
As mentioned in the previous paragraph, there are two types of companies - for profit and not for profit.
The not for profit agencies will either charge a very small fee or nothing at all to help you plan a budget and devise a plan to get your debts paid off.
They may suggest getting a debt consolidation loan, which will leave you with one manageable monthly payment.
Chances are the payment will be less than the sum of payments you currently have.
Not for profit companies that help people with debt consolidation are perfectly legal and are sanctioned by both the government and the credit card companies.
The company is not in a position to offer you a loan, but will work with you to find a lender that will give you the money you need to pay off your debts.
If you choose to work with a company that charges a fee, you are still assured of professional services.
These people will look at your financial statements and give you advice as to how to proceed.
In either case, the counselors can work with the creditors to get your payments reduced if you don't want to go the loan route.