Debt consolidation is nothing more than a con because you think you're starting with a clean slate.But the truth is the debt is still there, as are the habits that caused it—you just moved it!
Avoid the hassle of managing multiple credit card bills every month.Debt consolidation loans allow borrowers to roll multiple old debts into a single new one, ideally at a lower interest rate.Compare loans for debt consolidation and learn about your options for consolidating debt.You showed understanding of my situation without being judgmental in any way." D.Jevon, CT, South Africa This is also a loan and means another debt in your account. It helps you consolidate your other debts, and thus to bring down the interest rates as applicable.
It often involves a secured loan against an asset that serves as collateral, which is most, commonly a house (in this case a mortgage is secured against the house.) The risk to the lender is reduced so the interest rate offered is lower.