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Understanding Debt Consolidation Loans Debt consolidation loans are designed to help individuals mix multiple money owed right into a single loan. This can embrace bank card money owed, personal loans, medical payments, and more. The main objective is to simplify compensation, usually resulting in lower interest rates and simpler monthly payments. The course of usually entails taking out a brand new mortgage to pay off your current debts. One significant benefit is that you finish up managing just one cost instead of juggling multiple collect