Debt Consolidation

QCould You Give An Example Of How A Consolidation Loan May Work?
AYou may currently have two or more personal loans or credit cards with outstanding balances totaling $8,000. The minimum repayment for all these debts is around $350 per month. By consolidating all these debts into a single loan over a longer term of say 5 years, the amount you may have to repay could be reduced to less than $180 per month.