SAN JOSE, Calif., June 23, 2020 /PRNewswire/ –Of late, it seems that several debt consolidation advertisements surface just about every time I log on promising substantial savings if I consolidate all my debt onto a single loan. With the amount of debt in America staggeringly high, it’s not surprising that many people may consider this an enticing option to address their debt situation.

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According to Debt.org, Americans owe over $1 trillion in both student loans and credit card debt. On average, each household with a credit card carries $8,400 in credit card debt, and about 37% carry balances on their cards, paying interest charges …

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