What are some common myths about debt consolidation?
Many people believe that debt consolidation is a quick fix for financial problems, but that's not always true.
Is it true that debt consolidation can hurt my credit score?
It can have a temporary impact, but if managed well, it can actually improve your credit score over time.
Do I need to have good credit to consolidate my debt?
Not necessarily. There are options available for those with less-than-perfect credit, though terms may vary.
Can I consolidate all types of debt?
Most types of unsecured debt can be consolidated, but secured debts like mortgages typically cannot.
What should I consider before consolidating my debt?
Consider the interest rates, fees, and your ability to make payments on the new loan.
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