A debt consolidation consists to “transfer” your loan from one company to another (or even within the same company). Doing so allows you to make a new contract and, thus, to change the credit terms:
The rate of the new consolidated loan will depend mainly on your financial situation and your credit history. In order to get a lower interest rate:
The rate for a debt consolidation is the same than for a loan: from 5.9% to 9.9% in Switzerland, according to your situation and budget. If you have an ongoing loan with a higher rate, then you will probably get a better rate while consolidating your credit. Also, do not hesitate to ask a specialist like Creditloan to consolidate your loan.
Sometimes you can be offered the same rate for your debt consolidation. The consolidation is still interesting as you have the possibility to ask for a cash supplement, or to renegotiate the repayment duration. However, you should remember that a longer repayment period means higher interests.