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I have read a few articles on debt consolidation but I'm not sure what it is. Can you please explain what basically is debt consolidation?




Debt consolidation is the process to merge multiple unsecured bills into a single and affordable payment plan. You can do it by enrolling into a program or taking out a loan. Although debt consolidation loans are quite popular, yet I would recommend you to go for programs. In debt consolidation loans, you may lose your assets. Plus, you may have to pay high-interest rate if your credit score is low.

Sub: #1 posted on Wed, 02/27/2019 - 02:01

David Martin David Martin

(Posts: 201 | Credits: )

I would suggest you talk to a consolidation company or a financial adviser to know about it in details. Because since you have read articles, I think you have some queries. So, talk to a consolidation company and they will answer your queries before you enroll in a consolidation program. You can also post your specific query here.

Sub: #2 posted on Fri, 03/01/2019 - 03:58

Mabelle Page Mabelle Page

(Posts: 208 | Credits: )

You'll list up your unsecured debts (debts with no collateral attached), you'll take out a low interest loan and pay off all the debts, now you have only one loan to pay. That's debt consolidation. You may enroll into a program or can do it yourself, it's totally your call.

Sub: #3 posted on Fri, 03/01/2019 - 03:58

Barbara Delinsky Barbara Delinsky

(Posts: 402 | Credits: )

In debt consolidation, you can merge your multiple debts into a single payment every month. You do this by taking out a consolidation loan or by enrolling with a debt relief company.

Sub: #4 posted on Fri, 03/01/2019 - 05:04

sanderspatricia29 sanderspatricia29

(Posts: 981 | Credits: )

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