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Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others. [1] This commonly refers to a personal finance process of individuals addressing high consumer debt, but occasionally it can also refer to a country's fiscal approach to consolidate corporate debt or government debt. [2]
A debt consolidation loan may temporarily lower your credit score by a few points due to the hard credit inquiry. But, over time, consolidation could improve your score.
Shop for a Debt Consolidation Loan: Look for lenders offering debt consolidation loans with favorable terms, such as lower interest rates than what you're paying on your credit cards, and longer ...
Online lenders, banks and credit unions may offer debt consolidation loans, but you can also use a personal loan to consolidate debt. Depending on the loan terms, you could save money on interest ...
LightStream is a division of Truist Bank and offers a host of benefits for debt consolidation loans, including $0 fees, same-day funding, loan terms up to 84 months and loan limits up to $100,000 ...
Using credit card debt consolidation as a debt management tool gives you just one monthly payment to make and can help you pay off credit card debt once and for all.
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