Need help consolidating my debt
Those applying for credit card debt consolidation for example are likely to get lower interest rates than what they are paying initially.
If you owe people money (your ‘creditors’) you can make arrangements to pay your debts.
It's important to check all of the other options available and make sure you're making the right choice.
While consolidating debt often sounds like a promising solution, this could make your situation worse.
Consolidating multiple loans means you'll have a single payment each month for that combined debt but it may not reduce or pay your debt off sooner.
By understanding how consolidating your debt benefits you, you'll be in a better position to decide if it is the right option for you.