I think debt consolidation can be a good idea but there's a few things to watch out for.1. Research the company before going with them. There's some shady "non-profit" business out there.2. Keep a close eye on the fees. The debt consolidation company shouldn't be putting you further into debt.3. Don't listen to the "lower your monthly payments". This just prolongs your debt. You're after lowering your interest rate, and applying as much as possible to the debt each month.4. Do NOT put your house up as collateral. If you can not pay for whatever reason, you can now loose your home
