Overloaded with outstanding loans for education, car and credit cards? You might have received several calls from agencies that have talked about overcoming these debts after payment of monthly instalments failed over a period of time.
So debt consolidation is the next obvious move that you want to make. But before that, you should be familiar and updated with the nuances of debt consolidation. Let us take a step-by-step approach.
What is debt consolidation?
By the very meaning of it, debt consolidation is the combination of several unsecured debts like loans, credit cards, medical bills and alike into one composite unit with the promise of lower interest rate. The promise also has elements such as lower monthly payments and a simplified d…
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