For anyone who is in financial trouble these days, there are more options than in the past. Today, there are credit counseling services that provide bad credit debt consolidation. That can be in the form of a loan, a second mortgage, or debt consolidation on one credit card instead of many. For those who can negotiate a lower interest rate and smaller monthly payments, bad credit debt consolidation may be a good option. However, it is essential to be sure to negotiate that new rate yourself, or make sure to use a company that won't take advantage of the situation. Some services promise to restore your credit rating and lower your interest 50% or more. Others promise to negotiate and make smaller payments for you at a lower rate each month. Few can keep these kinds of promises, and may, in fact, do more harm than good. It is wise to investigate any debt consolidation service thoroughly and make sure it is accredited. If you've already been taken advantage of, or if you need help deciding what your next step should be, it may be wise to contact an attorney.