A look at debt consolidation

Debt consolidation may be beneficial for Americans who may struggle to pay multiple debts per month.

According to an article published in Business Insider, debt consolidation involves turning a collection of monthly debts into monthly payments. This practice can help individuals consolidate their debts and potentially save money on interest.

Americans were advised to consider personal debt consolidation loans, balance transfer credit cards or home equity loans to manage their debts but were urged to understand the associated costs and fees with these three methods prior to making a commitment.

Read more: Business Insider

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