How Debt Consolidation Works

Every month, you’re inundated with a bunch of bills of various amounts and due dates. Just keeping track of everything has gotten to be too much. Plus, the interest rates are costing you an arm and a leg. Don’t lose hope, though: debt consolidation could be the financial strategy to save you. Here’s how debt consolidation works.

Debt consolidation

What is Debt Consolidation?

At its essence, debt consolidation is the process of rolling multiple debts into a single payment. This saves you money, since, ostensibly, you’re getting a better interest rate. If you aren’t, then consolidation isn’t worth your while.

Consolidation also allows you to clear your debts faster.…

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