Man pushing a large ball labeled “DEBT” up a steep hill
If you have multiple debt balances from credit cards, high-interest loans and other forms of debt, you may want to merge them into one payment. You can use a debt consolidation loan to combine them into one lower-interest loan. There are many options on the market, so it is important to understand what a debt consolidation loan is and how to find the best one for you.
Debt Consolidation Loans, Defined
A debt consolidation loan is a loan that you use to pay off the balance on your other debts. This allows you to make a single payment each month, typically with a much lower interest rate than your other debt balances. By consolidating your debt payments into one, …
Read the full article at: https://finance.yahoo.com/news/debt-consolidation-loan-162446011.html
