Advise from trinity consolidating
We get lots of questions about debt consolidation at and that's because there are so many ways to consolidate debt.
Let's start with the basics: debt consolidation refers to the act of grouping all your different debts into one single debt.
If you don't examine these things it may mean that you'll make your situation worse – rather than better.
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Debt consolidation is when you take several debts, and consolidate them into one loan in order to take advantage of lower interest rates, lower payments or the lure of having a simplified situation and one easy payment instead of several payments.
Doing a debt consolidation loan should mean that you're moving into a better situation that is more manageable for you and your family. When doing a debt consolidation loan there are a few important things that you need to consider.
They require you to get a loan from a bank, credit union, or peer-to-peer lender who will agree to consolidate some or all of your debts (usually credit card balances) into one new loan.
If the interest rate on this new personal loan is lower than the interest rates on the different credit cards that you are consolidating, you'll save money.