With interest rates at record lows, paying off your debt with a low-interest debt consolidation loan is easier and faster than making minimum payments on credit cards. One of these loans could come in handy if you need to consolidate credit card debt or other bills accumulated during the coronavirus crisis.
A debt consolidation loan is a type of personal loan that combines high-interest debts and allows for one low-interest monthly payment. Debt consolidation loans can be used to pay unsecured debts, which may include:
This guide to the best debt consolidation loans explains the borrowing process and how to pick the right personal loan for your needs.
- What is a debt consolidation loan?
- How do debt consolidation loans work?
- How can you get a debt consolidation loan?
- Do debt consolidation loans hurt your credit?