What Is Debt Consolidation, and Should You Consider It?
Debt consolidation combines multiple debts into a single loan with the potential for a lower interest rate. This can simplify your finances and reduce monthly payments, but it’s essential to consider the risks, such as fees and the temptation to incur more debt. Understanding both the benefits and drawbacks can help you decide if consolidation is the right move for your financial situation. Read more to explore whether debt consolidation is right for you.