Using a debt consolidation loan to pay off multiple debt balances can simplify repayment while reducing your interest rate. The process for taking out a debt consolidation loan is similar to applying for any other personal loan. Yet taking a few extra preparation steps beforehand can help you lower your interest rate so you can make the most of the loan.

How To Get a Debt Consolidation Loan

1. Prepare Your Finances

When you apply for a debt consolidation loan, the goal is to get a lower interest rate or lower payment to reduce costs.

During the loan application…

(InvestigateTV) — From credit card balances to daily expenses, millions of Americans are struggling to stay ahead off their debt.

But Matt Schulz, chief consumer finance analyst with LendingTree, said it’s never too late to take action.

He said one strategy worth considering is debt consolidation.

“Debt consolidation can be a really big deal because not only can it streamline things for you, making it to where you only have to make one payment instead of several each month,” Schultz noted. “It can also really save you a significant amount of interest and even really shorten the amount of time it takes to really pay off that debt.”

He said consolidation can make sense for those able to qualify for a lower interest rate than what…

It’s no secret: The worldwide debt is rising. The Institute of International Finance reported that global debt reached $324 trillion in the first quarter of 2025. This raises a growing fiscal concern, particularly since top economies like the United States are facing declining growth and increasing costs.

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The federal government’s election pledge to reduce student debt for about three million Australians will be a legislative priority for the first week of the new parliament.

University graduates will have their debt reduced by 20%, but e61 Institute economists Jack Buckley and Matthew Maltman have concluded that people in the top third of income-earners will benefit the most from the proposed student debt relief, as will those who graduated some years ago.

Specifically, e61 cites the following concerns with the debt forgiveness policy.

First, the size of debt relief depends almost as much on graduation year as degree choice. This means that those who leave university in the year the policy is implemented will receive a debt cut that is…

Cash-strapped businesses and residents in Nelson Mandela Bay who are drowning in municipal debt have just been thrown a lifeline — a new amnesty deal that could see half their overdue bill wiped out if they settle the balance within a year.

The municipality has launched a programme to write off 50% of debts on all residential and business accounts that are in arrears, offering much-needed breathing room.

The application for the revenue enhancement programme opened on July 1 and will close on September 30.

Debt within the last 24 months will be considered and they must pay 2.5% of their remaining balance upfront.

The rest must be cleared within 12 months, in monthly instalments.

Those unable to meet the payment terms within the…

(InvestigateTV) — From credit card balances to daily expenses, millions of Americans are struggling to stay ahead off their debt.

But Matt Schulz, chief consumer finance analyst with LendingTree, said it’s never too late to take action.

He said one strategy worth considering is debt consolidation.

“Debt consolidation can be a really big deal because not only can it streamline things for you, making it to where you only have to make one payment instead of several each month,” Schultz noted. “It can also really save you a significant amount of interest and even really shorten the amount of time it takes to really pay off that debt.”

He said consolidation can make sense for those able to qualify for a lower interest rate than what…