Benefits and Pitfalls of Debt Consolidation Loans
IN THIS LESSON
- Reduce the number of payments you make.
- Lower interest rates.
- It can improve your credit score.
- Pay it off faster.
- Less stress.
- Possible upfront costs.
- You may pay more in interest.
- You may feel enticed to put more debt on your zero balance credit cards.
- Debt consolidation loans will not solve the underlying financial habits that got you into debt in the first place.