DROWNING in credit card debt? You're not alone. But if you seek relief through debt consolidation, choose wisely. Some alternatives can help, but others may worsen the problem.

Credit card debt is an issue for many. Bay Area residents carry an average of at least three credit cards with a total debt of $15,261 and monthly payments of $790, according to Experian's National Score Index.

To get over this sometimes helpless feeling, many have turned to various debt consolidation solutions.

This can help people get out of dire situations, but some methods come with drawbacks that include damage to credit scores and the fact that not all solutions are equal. Choices range from transferring to a lower-interest credit card to using a home equity loan or using a debt relief service.

"The term 'debt consolidation' has become such a widely used term that it has confused people," said Andrew Housser, co-chief executive of Bills.com and Freedom Financial Network LLC in San Mateo. "In reality, debt consolidation simply means combining and downsizing your debts so they are easier to pay."

Part of the problem, financial experts say, is that when multiple creditors need your money, it often becomes confusing trying to get a grasp on your situation.

"A lot of times, when someone owes a lot of creditors different amounts of money, it causes a lot of anxiety and gives you that drowning feeling," said Robert Pagliarini, author of "The Six-Day Financial Makeover."

"By consolidating your debt, it really allows you to focus, and it empowers you because now you know exactly who you owe and how much you owe."

The most popular reason for debt consolidation is to lower interest rates.

Often, a person's debt is attached to interest rates that are so high that DEBTIBusiness 2it becomes difficult to put a dent in the principal amount.

By moving two credit card debts with high interest rates to one with a lower interest rate, you can lower minimum payments while at the same time making more headway on the actual debt.

Many creditors offer introductory rates to lure customers, such as a zero percent interest rate for the first 12 months. However, if you do this, make sure you close the credit card you are transferring from so that you're not tempted to charge more on the high-interest card and make your debt worse.

"If you go from having three maxed-out credit cards to suddenly having four, then you're really going to be in a lot of trouble and will probably never get out of debt," Pagliarini said.

Another popular way is using a home equity loan or line of credit to consolidate debt. The advantage of this is that you might get some tax advantages along with a lower interest rate.

The risk if you aren't able to pay back the debt, however, could be severe.

"If you don't pay your credit cards, maybe the worst thing that happens is your credit score goes down and they take you to court," Pagliarini said. "If you use a home equity line, suddenly your home is on the chopping block."

Using low interest credit cards or a secure loan to consolidate loans works if you have a good credit score and profile.

However, those who are in serious debt hardship might find these methods of consolidation difficult to achieve. These people often are better suited to use a third party to help them get out of debt.

Debt relief services typically come in three major types — credit counseling, debt resolution and bankruptcy. The severity of the financial situation tends to dictate which options to consider. Usually, the debt relief services collect the payments and help to distribute them to creditors. This is what makes it a form of debt consolidation.

Chapter 7 bankruptcy is the quickest form of financial relief because it gives a person a fresh start by wiping out his or her debt completely. It's also the option that will cause the most damage to a person's credit, because it stays on record for 10 years. A new bankruptcy law, which took effect a year ago, makes it more difficult to file for Chapter 7 protection.

Chapter 13 bankruptcy requires people to make some form of payment toward their debt and stays on a credit report for seven years.

Credit counseling agencies help people to construct debt management plans. They can help get the interest rates reduced because they usually have more negotiating leverage with the creditors. But the principal owed is not cut, which means a large debt could still take five to 10 years to pay off.

Also, because many credit counseling agencies receive funding from creditors, sometimes their incentives might align more with creditors than the consumers they are supposed to be serving, Housser said.

Those who hope to be out of debt much sooner, but don't want a drastic hit to their credit score, can turn to debt resolution firms. Such firms negotiate on the creditors' behalf to lower the total principal due. Sometimes debt can be lowered more than 50 percent.

If debt resolution seems like a good fit, it's important to do research on different firms. Consumers need to find out how the debt will be paid off. Some will collect money from a consumer and distribute it to the creditors, while others establish a bank account in the consumers' name to deposit funds that will be paid directly to creditors.

"If you are going to use a debt relief service to help consolidate your debts, you really need to make sure you know who you are working with," Housser said. "Because what each service offers is so varied, they can range from legitimate and ethical firms to complete scams."

One reason people shy away from debt relief services is that they don't want to damage their credit scores, which each of them does to varying degrees. Pagliarini says that sometimes people can negotiate interest rates or debt resolution themselves. If a creditor believes that the only way it will get paid back the money owed is to give in to a person's request, it might do so. Usually this approach is less harsh on a credit score, experts say.

A third party going in to negotiate, however, usually has more success lowering interest rates and principal owed because often it is coming in with multiple accounts as leverage.

Sometimes, however, as important as a good credit score is, getting out of debt should be the first order of business.

"It's like worrying about getting good grades in college before you worry how to get accepted to that college," one financial expert said.

In many instances, having good cash flow is as important as good credit, Pagliarini said.

"Rocky finances can get you ulcers and impact employment by making you nervous about work," Pagliarini said. "The bottom line is you have to figure out how to take charge of your financial situation, and sometimes debt consolidation is the way to do it."

Click here to go to Freedom Debt Relief's website