For many people who are in a difficult financial situation and maybe even on the verge of bankruptcy, getting a consolidating loan makes perfect sense.

If for some reason you are not able to secure a loan with a lower interest rate, you might want to consider something else besides debt consolidation.

Debt consolidation makes sense when;

  • You can easily manage to afford the new payment and
  • When you end up paying less interest (than you were before the loan)

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