What Is debt consolidation? If youre struggling with credit card debt, youre certainly not alone. According to credit reporting bureau Experian, the average American has a credit card balance of $4,293. Because credit cards can have incredibly high interest rates some as high as 30 percent your credit card balance can quickly balloon out of control.
When that happens, its easy to feel overwhelmed. But there are ways you can tackle your debt and save money, helping you pay off your credit cards early.
Debt consolidation is one option. With debt consolidation, you move the debt to a lower-interest type. More of your monthly payment goes toward principal rather than interest, allowing you to save money …
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