In many cases, having multiple credit accounts in good standing can improve your score — but, when you fall behind on one type of debt, it can strain your ability to keep up with the rest.For some, a good way to get a handle on their debt is to get it all in one place through a debt consolidation loan.You’ll want to comparison shop loan terms, as well as check out the reputation of the providers, before entering an agreement.Of course, the best place to start is by reading the expert reviews on our top companies below.
You’ll need to visit a branch to apply for a loan of up to ,000, but that shouldn’t be a problem, as 5 out of 6 Americans live within 25 miles of a branch.
Keep reading to learn more about debt consolidation, or skip ahead to find reviews of our top companies for best debt consolidation loans.
How it Works | Company Reviews | Bad Credit Approval Tips — several loans with different terms into one loan, hopefully with more favorable terms.
Paying off your credit cards with a consolidation loan can help you avoid that cycle, as well as any credit score hits from missing payments when the balance becomes unmanageable.
Be sure to look for an interest rate lower than that of your current debts.