Both of these options will consolidate your debt, but they work very differently.
A debt consolidation loan is a loan you can use to pay off your various credit cards. This rolls all of your debts into one—meaning one monthly payment and one interest rate.
A debt management program (DMP) is usually run through a nonprofit service. The nonprofit organization could help you consolidate your debt payments and apply lower interest rates by working with your creditors. You get the same benefits, without receiving new financing as you do with the loan.
Which of these options is best for you depends on your specific financial situation. Talk to a Debt Consolidation Specialist for free for personalized insight on how you should handle your debts.