Should You Consolidate Your Debt? What to Consider

Is Consolidation Right for You?

Debt consolidation combines multiple debts into one loan, but it’s not for everyone.

Pros

• Lower interest rates, potentially saving money.
• Simplified payments with one monthly bill.

Cons

• Possible fees or longer repayment terms.
• Risk of accumulating new debt if habits don’t change.

Key Considerations

Check your credit score, compare loan terms, and ensure you can stick to a budget.

Debt consolidation can help, but only if paired with better financial habits.