Consolidating credit card debt is only a bad idea when you are not able to control your credit card debt on your own. If your monthly payments are through the roof and you have not been able to afford to pay toward the principle debt on your credit cards for a while, consolidation is going to help you out a lot. When you begin the consolidation process with a company, they will take a hard look at your credit report to figure out the best way that they can help. Consolidation only works when you have more than one outstanding debt that needs to be paid (hence, the word consolidation). If you have only one out of control credit card, it may be a better idea to contact the credit card company and work out a settlement before the debt becomes huge.
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