Is debt consolidation good or bad?

[Finance Guru]

In my experience, I think the simple answer to this question is that debt consolidation is good provided you shop around and find the best deal (i.e. reasonable interest rate, repayment period etc), and you learn from your previous mistakes which resulted in you getting into debt in the first place. Many people escape debt via a debt consolidation loan, but only to end up getting into further financial problems in future.

[mark007]

Well!!!! There's really no one single answer. Debt consolidation can be a smart move, or it can be a bad one. A lot depends on your individual circumstances and what you're trying to achieve. Like lower monthly payment and the bad credit report it will really effective on this.



Payday Loans Uk|Fast Cash|Pay Day Loans