The main con of debt consolidation is really what can happen after the consolidation and all the debts are paid. You now have less going out each month, which definitely frees up some cash. And concurrently, many times, the next thing you know, the offers start coming in the mail for discounts on new automobiles, and new offers for credit cards. So what do you do? Well it’s kind of like a diet. You go on the diet, you lose the weight, and it appears to be over. Well you have to now maintain or you will be right back to where you were before. It is the same with debt consolidation, if you are not careful you will jump right back into debt and this time consolidation may not be an option.

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