NEW YORK, NY / ACCESSWIRE / May 4, 2023 / iQuanti: Debt consolidation is the process of merging two or more smaller debts into one large debt. This is typically done with a debt consolidation loan or low-interest credit card. These types of loans can be found at traditional banks, credit unions, and online lenders. This article will cover some of those options and explain how debt consolidation can help you.
Merging your debts with a consolidation loan
One goal of using a debt consolidation loan to pay off other outstanding debt is lowering your total monthly payments. Ideally, you’ll want to reduce the interest rate you pay on the debt. Credit card interest is high. Personal loan interest is typically lower, and you can stretch the loa…
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