Consolidating credit card debt is the process of placing numerous credit card debts into one loan. In general, consolidating this debt can be helpful if it helps to make payments more affordable, reduces the total monthly payment or helps to get the borrower a lower interest rate. In addition, those who have numerous credit card accounts may consolidate their debt onto one line of credit which helps to make payment easier since only one payment is made per month. Consolidation is a form of debt settlement only when the funds being paid back are decreased in total value.