Yes, Debt Cosolidation isn't a good idea and I'll tell you why. I've done research of my own and found out some disturbing information.
You've seen those long drawn out commercials full of promises to get you out of debt. They use words like "non-profit" and "conseling". To get you suckered in, then they got you. You call and you have 5 bills that are overdue. Remember the words "non-profit", okay now they want you to give them the account numbers and creditor names that you owe the balances. You do that and here comes the fees! Didn't they say non-profit? Yeah right! They may charge $5.00 per account or a flat rate of 39.95 a month. Thats $480 a year, don't forget that they draw your payments out as long as possible. I mean where do you think these "non-profit" companies get their funding from? Your looking at $1440.00 in three years. To add to that the consolidators even earn about a 10-15% commision from the creditors. You thought they were on your side...Not! That's not all, when the consolidators call your creditors they close your account. Now do you think your credit score will go up or down? Down more than likely. They also only negotiate the interest you owe not the actual balance.

Debt consolidation in my opinion is a "RIP OFF". You can do better doing it youself. You can and will if you visit Credit Secrets 4 You Sign up for a FREE newsletter to get more credit help, tips and secrets like this one. I do research mainly into credit and government grants. I'm an HTML/CSS goddess currently mastering Javascript. Email me if you need a webdesign.