Debt Consolidation Loans

A consolidation loan is taking out a new loan with a financial institution to help pay off several outstanding debts. This type of debt solution can be helpful if you're having a difficult time staying on budget because of the constant flow of incoming bills. Although this may sound like the easiest option and might leave you with more money at the end of each month, it is not always the best solution. It requires changing spending habits and managing a budget. If not handled correctly, you can find yourself right back in the same predicament or worse