You cannot borrow your way out of debt, much like you cannot dig yourself out of a hole, you will only dig yourself deeper. To get out of a hole, you need a rope, not a shovel.
Consolidation loans may reduce your installments somewhat but your total debt load will increase substantially. They also carry heavy interest rates, some up to 35% per year with a term running several years. When you settle your debts like this, you are not settling anything, you are just moving your debt to the consolidation company and that means the original capital plus interest and finance costs gets refinanced with more finance costs and interest added on top of that. Once the term starts, you will be bound for several years, unlike debt review where you can cancel the process if you can afford your credit again.
Finally, if your credit record is impaired to a certain point, you will not qualify for a consolidation loan anyway.