are a few pros and cons of this program. Advantages: Single monthly payment: Once you get enrolled into a debt consolidation program, your multiple payments are consolidated into one manageable and affordable monthly payment. Lower interest rates: If you seek the services of a debt consolidation company, they will negotiate with your creditors to lower the interest rates. You can also do it yourself through balance transfer method. Reduced monthly payments: If the interest rates get lowered, your debt amount also gets lowered indirectly. This means your monthly payments are also reduced. This helps you get out of your debt fast. Disadvantages: Add up more due to spending habits: If you don't change your spending habits, you can incur more debts even during the repayment period. End up paying more: Some debt consolidation programs stretch over a long period. If you go on making only the minimum monthly payments, you will end up paying more in the long run. Credit counseling: An effective budget and financial plan Credit counseling is the process where consumers are educated about how to avoid debt. Besides providing consumers with free counseling on spending habits, budget planning and the ways to avoid falling in debt, consumer credit counseling services also help people get out of debt within a short span of time. Moreover, it is one of the free debt solutions available in the country. Here are some of the pros and cons of consumer credit counseling services. Advantages: Credit counseling is a favorable alternative