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Why doesnt debt consolidation work?

April 26, 2017debt consolidation

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10 Posted

Why doesnt debt consolidation work?

1 Answer

0

10 Posted

Debt consolidation doesnt work because you end up paying the same as you owe. You havent changed any financial behaviors. You cannot borrow your way out of debt. The only way to get out of debt is to spend your money on paper first! You have to have a spending plan and stick to it. Typically these debt consolidation programs end up reflecting on your credit report as if you have filed for Chapter 13 bankruptcy.