If however, you still believe debt consolidation loans are a way out then consider this seamier side of it before applying for one.
According to MP Dunleavey the 3 worst debt consolidation fallacies are:
Debt-consolidation loans are easy to get and as they flaunt lower repayment rate, they are cheaper.
Believing that Debt consolidators take care of everything when all they care about is their fees.
Believing that low-interest balance-transfer cards are forever, when in reality they are only for a few months.