What is debt consolidation and how can it help me?
Debt consolidation is the process of combining multiple debts into a single loan, often with a lower interest rate.
What are the benefits of consolidating my debts?
The main benefits include lower monthly payments, reduced interest rates, and simplified finances.
Are there any risks involved with debt consolidation?
Yes, risks include potentially extending your repayment period and possibly accumulating more debt if not managed properly.
How do I know if debt consolidation is right for me?
Consider your total debt, interest rates, and your ability to make consistent payments. A financial advisor can help.
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