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Credit card debt consolidation is the process of combining all of your outstanding credit card debt into one payment. By doing so, you could achieve a more manageable monthly payment plus pay less in interest on the total debt. Consolidating debt involves basic steps like gathering information on your debts, comparing debt consolidation loan options terms, and taking action.
Key Takeaways
- Credit card debt consolidation can simplify your monthly payments and save you money on interest.
- Methods of consolidation include balance transfer credit cards, personal loans, home equity loans, and debt consolidation loans.
- Consider factors such as interest rates, fees, and potential credit score impact before consolidating, to make sure it wil…
Read the full article at: https://www.investopedia.com/credit-card-debt-consolidation-a-step-by-step-guide-8418444