If you struggle to manage your debts, paying someone to roll them all into one consolidated loan may sound like a good idea. Here are the things to check before consolidating or refinancing your debts and how you can get free help.
What is Debt Consolidation?
Debt consolidation involves rolling all your existing debts into one loan. This may help you better manage your repayments, but it may also worsen your situation if the interest rate or fees in the new loan are higher than they were with your original debts.
Avoid refinancers who make unrealistic promises about getting you out of debt or advertise that they can help you no matter how much you owe.
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