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What Is Debt Consolidation?

Many people have debt in the form of credit card balances, personal loans, car payments, etc. Keeping track of the due dates and coping with high-interest rates can be challenging. Suppose you want to simplify meeting your financial obligations. Debt consolidation may be a viable option. This article explains the concept of debt consolidation, its benefits, potential drawbacks, and various methods available for consolidating debts.