Debt Consolidation Loans 1

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Posted on September 23, 2018 at 10:05 AM

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How to consolidate debt | Debt consolidation loan | Barclays
For most people, a debt consolidation loan involves taking out a single loan that pays off your existing debts. This could work out cheaper if you’re offered a lower rate of interest overall, when comparing it to your other debts’ interest rates.
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Debt consolidation is the process of taking out one loan to pay off two or more unsecured debts. If you have multiple outstanding credit card bills, for example, a debt consolidation loan could be used to pay off those bills, leaving you with only one monthly payment.
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Theoretically, debt consolidation is any use of one form of financing to pay off other debts. However, there are specific instruments called debt consolidation loans, offered by creditors as part ...

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