Are there risks involved in credit card consolidation?

other than its a long term commitment that you must comit to to make it work and its usually a high payment every month. Also your credit will take a small hit, not as bad as bk or settlement but it will effect your score. And keep in mind some cc companies will not work with the program. but there really isnt any real serious problems or things that will spring up on you.

Have you considered doing it yourself?

bossy makes a great point, you could also call the cc companies and ask if they have any type of harship programs. alot of people have been sucessful with this were they either illiminate interest, or lower it and span it out over say like 5 years which is pretty much what the consolidation companies do, the only difference is instead of 1 payment you would still have a few