Credit card consolidation loans work great for people who owe more than $3,000 to credit card companies. If you owe lesser than $3,000, you can consolidate your loan with a zero or low interest balance transfer credit card. At first, you will have to attend a counseling session so that they can determine how much you are able to pay the creditors every month. They determine this amount based on a realistic monthly budget. Some organizations will charge fees for the counseling sessions while others donâ€™t.