There has been a lot of talk in recent months about debt consolidation. Many borrowers who find themselves drowning in debt, are eager to approach their bank or another financial institution to consolidate all their loans and credit cards into one payment. But many are under the illusion that this is the ultimate solution to all their debt woes.
Before you decide to go down the debt consolidation route, it is important to analyse whether it is the right financial decision for you or not. Here, the team from Souqalmal.com weighs in on the pros and cons and long-term implications of consolidating your debts:
How does debt consolidation work?
Debt consolidation products from banks offers overwhelmed borrowers some breathing space by rolling …
Read the full article at: http://www.thenational.ae/blogs/your-money/your-money-blog-is-debt-consolidation-in-the-uae-really-worth-it