The third option for consolidation is to enroll in a debt management plan through a nonprofit credit counseling agency.Your credit score will not be a factor with this option.
Thus, an investor looking solely at Company XYZ's holding company financial statements could easily get a misleading view of the entity's performance.
GAAP dictates when and how companies should consolidate and whether certain entities need to be consolidated.
Thus, it is important to note that entities in which a company owns only a minority interest do not often need to be consolidated.
All options will do what you want in terms of paying only one monthly bill, assuming you do not use the cards for future purchases.
And yes, I do believe it can be a good idea as long as you do your homework and choose the option that will work best for you.
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Why It Matters Consolidated financial statements provide a comprehensive overview of a company's operations.