3 Little Known Reasons To Stay Away From Debt Consolidation Loans
August 26, 2008
A debt consolidation loan is often said to be a good way to reduce your debt. The common theory is that you can lower your interest rate, particularly if you’re consolidating credit card debt, and wind up with a smaller payment. This theoretically lets you get the debt paid off faster, saving money in the process.
The facts are a little different however. There are several reasons why a debt consolidation loan is often not a good idea. Here are three of the most serious:
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