Doing so can potentially save hundreds or even thousands of dollars, and can help you pay down your card loans quicker.
However, before consolidating one’s credit card debt, it’s important to understand all the strengths and weaknesses of the different options.
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Consolidated credit companies, like credit counseling agencies, usually point consumers at debt-relief options like a debt management program, debt settlement, a debt consolidation loan and, in extreme situations, bankruptcy.
With credit consolidation, you take out a new loan and use it to pay off smaller loans.
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