How to avoid the traps of debt consolidation. Image: Pixabay
If youre finances are spiralling out of control, the obvious thing to do is to consolidate your debts.
Bundling together all of your credit cards, store cards, lines of credit, and personal loans has a lot of potential benefits you can streamline your affairs, an most likely reduce the fees and charges that youre paying.
However there are some pitfalls with the debt consolidation process, if youre not careful a debt consolidation could leave you worse off than before.
If youve got yourself into a precarious financial position, and debt consolidation is recommended as a way to simplify things, its important to also think about the underlying causes that …
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