Debt consolidation is usually billed as a smart financial move, because it can boost your credit score and save you money.
But a few mistakes could actually hurt your credit or cost you more money in the long run. Here’s what to keep in mind when deciding whether to consolidate your debt and how to choose the best way to do it.
How Does Debt Consolidation Work?
Debt consolidation usually means taking out a loan to pay off existing debts, most commonly credit card debt.
These are technically personal loans that lenders often market as “debt consolidation loans,” which
