chrishell strauss

Sun, 03 May 2026 13:29:45 +0000

A debt consolidation loan works like any other personal loan, but is designed to help you combine and pay off existing debts, rather than take on extra debt for a new purchase or expense. A debt consolidation loan is a personal loan you use to pay off and cancel all your debts, so you have just one payment per month. By repaying this personal loan instead of multiple debts,. You could also get deeper into debt if you get more credit, as it may tempt you to spend more. Here are some things to consider before deciding to consolidate or refinance. Debt consolidation means combining several debts, like credit cards or personal loans, into one new loan with one regular repayment. Refinancing means replacing an existing loan with a new one.