If you pay less, you would end up paying a lot more interest and for a lot longer period of time.
You could transfer credit card debt to a 0% interest card, but make sure you pay it all off before the special offer ends and that the interest rate isn't higher than what you already have. There are offers for that all the time. check www.bankrate.com for some ideas. It is never worth having debt when you could be saving the interest payment toward something else you want.
First, if you pay less, you may end up paying more in the long run since you will be paying more in interest unless you get a very good rate. If you can make the payments, sit down and figure out how much you would be paying in interest if you consolidate and how much you would be paying if you do not.