Debt consolidation loans offer significantly lower interest rates and/or monthly payment amounts in comparison to other personal loans and credit cards.The interest rate of debt consolidation loans is predictable and fixed up to the final payment, unlike other loans where interest rate tends to fluctuate.Debt consolidation is a quick and simpler way to pay off and deal with multiple loans/debts.It is always possible to negotiate the repayment period with debt consolidation loan companies /banks/money lenders.It saves you the mental pressure that otherwise you have to deal with due to numerous loans and the collecting agencies that call you often.It is best to pay a single debt consolidation payment with a fixed amount on a monthly basis rather than dealing with multiple loans and shuffling between their payment schedules regularly.