Consolidating debts is a strategy that can help you reduce the interest rate on debts that you are paying, as well as reduce the amount of your monthly payments.
The downside is that you miss out on getting the quick wins of paying off debt using the Intelligent Debt Snowball, paying down smaller debts one at a time.
We also want to make sure you understand that are risks attached with refinancing debt as a home equity loan, because home equity loans are secured against real estate that you own.