Debt consolidation allows you to simplify your debt and your budget. In some cases, you are able to save on interest should you have many high interest bearing accounts that you are consolidating. In a nutshell, debt consolidation has a major convenience advantage.

However, essentially you are streamlining your debt as opposed to seeking legal protection or protection from repossession of assets etc.

The risk with debt consolidation is that you are able to incur more debt, which will effectively have you seeking debt review. As a result, it is important to foster healthier spending habits once you have consolidated your debt.

Debt review on the other hand does not only safeguard you from legal action but also protects you from having valuable assets such as your home or car repossessed.