Life coaching is not a substitute for either therapy or consulting.
Therapy:
Therapy is meant for those who have significant trauma or certain psychological conditions (clinical depression, anxiety, eating disorders, ADHD, addiction issues etc.) If this is you, your healing must come first — please see a therapist who can help you resolve your trauma or stabilize your mental health. You can proceed with life coaching when a licensed therapist or counselor gives you the go-ahead.
The other difference between therapy and coaching is that therapy focuses on the past while coaching is future-oriented. Coaching focuses less on constantly examining (past) emotions and more on taking action: it is meant for people who are willing to push themselves to experience all that life has in store for them.
Consulting:
Consultants are paid to provide their expertise on subject matter beyond what you as the client know. On the other hand, coaches typically refrain from giving you advice or telling you what to do. Instead, I work with you to guide you towards your own perfect solutions and insights.