Debt consolidation and debt relief are not the same. Debt consolidation involves paying off existing credit card balances and other debts with a new loan that has an APR and repayment structure you choose. Debt relief involves third party companies that often charge high fees to negotiate with creditors on your behalf. Debt relief services can be risky and can often leave you in more debt than you started due to fees and penalties, and your credit score can also take a hit.