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A debt consolidation loan combines all your high-interest debt into one personal loan, giving you a lump sum you can use to pay off credit cards, medical bills and other debt. By consolidating ...

debt consolidation often leads to interest savings and more manageable monthly payments. And, since debt consolidation loans and programs typically come with a fixed payment plan and lower interest ...

Some borrowers may qualify for an interest rate on a debt consolidation loan that is lower than the rates of their current debts. Consolidating high-interest debt into a low-interest loan can save ...

Upfront costs may eat into the savings that debt consolidation can present, especially if the interest rate you qualify for is higher than the average rate of your existing debts.

Debt consolidation loans may not be the best option for every financial situation. Balance transfer credit cards, home equity loans and home equity lines of credit (HELOCs) are ways to consolidate ...

Lindsay VanSomeren is a personal finance writer based out of Kirkland, Washington. Her work has appeared on Business Insider, Credit Karma, LendingTree, and more. Jordan Tarver has spent seven ...

Consolidating debt can simplify payments and reduce interest rates on high-interest loans or credit lines. Whether it’s best for your situation depends on various factors, including your debt ...

If your credit scores are on the low end and your DTI is high, the debt consolidation loan that you may qualify for can have a prohibitive interest rate. If the APR on your credit cards is lower ...