The debt consolidation industry offers solutions to combine multiple debts, such as credit card bills, or other loans into one monthly payment. This debt management solution may be helpful for the consumer with many outstanding debts, particularly debts with higher interest rates. The benefit of debt consolidation is to help consumers develop a workable budget, pay off debt and save money for retirement. Debt counselors offer a variety of services in local offices, online or over the phone to help with a debt consolidation plan