A mountain of debts is what you've got to encounter when one fine day you sit and calculate the cash you owe to lenders. Then you realize that debts have grown excessive amount of for your repaying capacity and anytime the bomb of monetary disaster can explode on you if measures aren't in situ immediately. Well, surely you shop around for solutions. And most likely you agree for the favored technique called debt consolidation. A most frequently adopted technique; debt consolidation simply means you're taking payday loans for paying off debts. In turn, it means all of your paid debts actually are consolidated under a replacement lender and loan. So while you've got cleared debts, you continue to owe almost an equivalent amount, which is adequate to debts, to the new lender. Then why choose debt consolidation? There are a number of benefits that come alongside debt consolidation.