misunderstandings about debt consolidation

Now, there are a few misunderstandings about debt consolidation. The first one is that debt consolidation is NOT the same as a debt consolidation loan.

With a debt consolidation loan you borrow money from a debt consolidation lender in order to pay off all your other bills.

Then you make one monthly payment to this new lender and pay whatever interest rates the lender wants to demand of you. It’s the equivalent to paying all your bills off with one credit card and then making payments only to that credit card.

Go to Debt Consolidation main directory.