Credit Card Debt Consolidation There are many options for making the credit card consolidation like you can get the personal loans to settle the debts. As these personal loans have the low interest rates than the other types of loans. But you have to use the collateral like your house for the property change. The other method is to contact the professional company and opt for the no loan consolidation. But most people will go for the debt consolidation plan as the liability settling process is very easy and helps you to track the spending. There are some difference between the settlement and the debt consolidation. The debt settlement company can negotiate with the creditor and reduce the amount of the debt. But in the consolidation type there is no chance of reducing the debt. The financial people say that the debit consolidation is better than the debt settlement. You can contact the consolidation companies to help you to overcome the process but remember that the amount paid for the consolidation company will also be added to the credit card debt and the same situation continues again. The debt consolidation credit card works only when you have several credit cards and the trained financial professionals will help you to negotiate and lower the interest rates. There are two types of loans secured and unsecured. The secured loans need some collateral like your house but the unsecured loans doesn’t ask for the collaterals. The secured loans have low interest rates than the unsecured type.