A little bird told me
Debt consolidation can help you simplify.
I started thinking about debt consolidation after I read about it online. Here are the main reasons people get debt consolidation:
- To save money by getting a lower interest rate
- To lower monthly expenses
- For convenience
Lower interest rate
The benefits of paying a lower interest rate are pretty obvious: it saves money. For instance, if you have several credit cards with 15 percent interest rates, and you can get a personal loan at 12 percent, you’ll save a bunch of money over time.
Of course, it isn’t usually that cut and dry. In my case, I don’t just have credit card bills. I have a bunch of different bills from different creditors, all with different interest rates. But more on that later.
Lower monthly expenses
You may be in a situation where you just can’t afford to make your minimum monthly payments on everything. Or you could be facing a creditor who is demanding a large sum right now or there will be severe penalties, such as wage garnishment. ... click here to read the rest of the article titled "What Are The Benefits? | Debt Consolidation Part 2"
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