Generally speaking, the process of debt consolidation involves taking out a new, lower interest loan and using it to pay off existing debts. If you improved your credit score since you obtained your current loansor even if you just struggle to remember individual payment datesdebt consolidation can be a great way to streamline loans while reducing your monthly payments.
Well walk you through the debt consolidation process and help you determine whether a debt consolidation loan or balance transfer credit card is a good fit for your financial needs.
What Is Debt Consolidation?
Debt consolidation is when a borrower takes out a new loan and then uses the loan procee…
Read the full article at: https://tulsaworld.com/business/investment/personal-finance/what-is-debt-consolidation-how-does-it-work/article_dc8d34ca-2dcc-59ba-b2ee-0aeb4c51b009.html
