Hanna and Paige
What is debt consolidation?
It is a form of debt refinancing to help eliminate all existing debt by taking out one loan to pay of multiple loans. This form of refinancing can be helpful or harmful depending on the the type of debt consolidation that one uses. Debt consolidation may lower one's monthly payment, increase or decrease one's interest rate, and possibly erase one's debt.
Does debt consolidation hurt or help your credit?
Debt consolidation may