Debt consolidation requires getting lower interest debt to pay higher interest debts. Debt consolidation typically requires a good credit score and regular income to qualify for low-interest loans. 

How debt consolidation generally works:

• Combine all the high-interest, unsecured debt you have, such as credit card debt.
• Apply for low interest debt, such as a bank loan or credit card with a low introductory interest rate.
• Pay off high interest debt with your low interest debt.
• Repay the new low interest debt.

If you transfer the debt to a low introductory rate credit card, it is important to pay off as much of the debt as possible before the introductory period ends.