Most people refinance for 1 of 2 reasons:
1. to save money on their current, more expensive loans
2. to reduce their overall repayment, maximising their cashflow
These are both great reasons to refinance your more expensive debts of course.
Ideally, after you consolidate your debts you will be able to continue making the same repayments - this will seriously make a dent in your debt, and it the gold standard.
However if you can't, just be aware that the cost of the longer term (a home loan is typically 30 years) can be huge. TRhe repayments will be less but, over time, the interest bill will really add up. As painful as personal loans are, they are geared to reduce in a short period of time (usually 3-7 years). The shorter loan term