 TITLE: How to Get a Debt Consolidation Loan CONTENT: Is a Debt Consolidation Loan Right for You?\n-------------------------------------------\nThere are two main reasons people consolidate debt: to reduce the number of payments they make each month and to save money on interest over the life of their loans.\nIf you have a lot of high-interest debt, often from credit cards, you might consider a debt consolidation loan to reduce the total amount you pay over time. Access to a debt consolidation loan with even a slightly lower interest rate than the one you're currently paying can help shave thousands of dollars off the total amount you repay.\nYou may also consider consolidation if you're having a hard time managing multiple payments. Instead of paying several different credit card bills, debt consolidation lets you pull all those debts into one place, leaving you with only one monthly payment. This can ease your mind and help you avoid missing a payment—which can have a serious impact on your credit scores.\nSince a debt consolidation loan is essentially just a personal loan that you use to assume all your existing debt, it comes with multiple benefits and can be used as you wish. END