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What exactly is debt consolidation?

April 26, 2017debt consolidation

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What exactly is debt consolidation?

2 Answers

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Loosely defined, debt consolidation involves combining two or more debts into one monthly payment. The benefits are usually immediate. You’ll only have one payment to make (which easily beats keeping up with several), and you can enjoy lower-interest rates (which means no more 18-24% credit card debt). This will not only lower your monthly payments, but speed up your loan payoff as well.

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Debt Consolidation is a program which helps a Consumer who is heavy on debts to come out of it in a very easy and effective manner. It piles up all high interest debts of the Consumer into a single affordable low monthly payment.