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Debt consolidation is not the answer to all financial problems. While these types of loans can be beneficial, it is important...
Debt consolidation is not the answer to all financial problems. While these types of loans can be beneficial, it is important for a potential borrower to learn all the facts before making a final decision. Defining Debt Consolidation Loans A consolidation loan is a specific loan that allows the borrower to combine several loans or credit card balances into one monthly payment. There are several methods an individual can use to accomplish this such as: Balance transfers to a credit card with a lower interest rate Taking out a home equity loan Using a...