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2. How does debt consolidation work? Answers from someone who’s ...

   www.aol.com/finance/debt-consolidation-loans...

   Debt consolidation is a form of debt refinancing in which the borrower takes out a loan, credit card or line of credit and uses it to pay off other debts. This helps debt repayment as the borrower ...

3. Pros and cons of debt consolidation

   www.aol.com/finance/pros-cons-debt-consolidation...

   American consumer debt — including mortgages, car loans, credit cards and student loans — reached $16.90 trillion in the fourth quarter of 2022, according to the New York Federal Reserve. This ...

4. What nonprofit debt consolidation is and how it works

   www.aol.com/finance/nonprofit-debt-consolidation...

   Nonprofit debt management services typically only apply to unsecured debt. Credit card debt. This is the most common type of debt in debt management plans. Americans carry a lot of credit card ...

5. Debt consolidation - Wikipedia

   en.wikipedia.org/wiki/Debt_consolidation

   Most debt consolidation loans are offered from lending institutions and secured as a second mortgage or home equity line of credit. [8] These require the individual to put up a home as collateral and the loan to be less than the equity available. The overall lower interest rate is an advantage that debt consolidation loan offers to consumers.

6. Debt consolidation vs. Bankruptcy: Which is right for you?

   www.aol.com/finance/debt-consolidation-vs...

   Millions of Americans have some kind of debt in personal loans, student loans or credit cards. The average individual credit card debt alone is around $7,226 .

7. How to consolidate debt without hurting your credit

   www.aol.com/finance/consolidate-debt-without...

   The idea here is to pay a lower interest rate on a consolidation loan or balance transfer credit card than you currently have. This is doable with a “good” credit score, which is at least 670 ...