One payment can seem much easier to handle than many. However, getting to a place where you can negotiate such debt consolidation can be costly in terms of your credit rating. Let's face it, as long as you're making some kind of payment on your credit card, and the company is still able to charge their usual high interest rates, they will do so. Generally, only when you begin missing payments will they be likely to negotiate lower interest, no interest, or lower principal. In some cases, even if a debt consolidation service recommends that you miss some payments, the credit card company may not be willing to negotiate. Then you have probably had your rates increase, you've accrued more debt, and your credit score has dropped significantly. Not only that, but such a service will probably have charged high fees, as well. If you do seek the help of debt consolidation counseling, check them out thoroughly, make sure they are accredited, and be sure they don't have hidden fees. If you have already been mistreated by such a service, a lawyer may be able to help you reclaim restore your financial standing.