Youve finally decided to do something about all those bills coming in that, due to ever burgeoning interest rates, you can barely afford. Youre thinking about going the consolidation route, but youre unsure what that all entails. And in any case, is debt consolidation a smart thing to do? Let us look.
What is Debt Consolidation?
Basically, its rolling multiple debts into one, using a personal loan or balance transfer credit card. The financial strategy streamlines payments, whereby instead of having several bills to worry about each month, of varying amounts and due dates, youll have a single payment, hopefully with a better interest rate.
What Are Some Kinds of Debt Consolidation?
Two of the top ways to consolidate debt include…
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