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A debt consolidation loan is a type of personal loan that can be used to pay off multiple debts, often at a lower interest rate. It can simplify your finances, save you money, and help you become debt-free more quickly. When youre in the market for a debt consolidation loan, make sure to shop around and find the best loan and interest rate for your situation.
Key Takeaways
- A debt consolidation loan might be right for you if you have high-interest debt that has become overwhelming.
- Before you apply for a debt consolidation loan, add up the debt you want to consolidate so you know how much you need to borrow.
- To get a debt consolidation loan, youll need a sufficient credit score and a credit report as well as adequate income to repay…
Read the full article at: https://www.investopedia.com/how-to-get-a-debt-consolidation-loan-8350809