Question

A debt consolidation loan is a type of loan that allows you to combine all of your debt (from things like credit cards, student loans, and other loans) into one loan. This way, you’ll only have one loan to pay back, which can make it easier to keep track of how much money you owe and when it is due. With a consolidation loan, you can usually get a lower interest rate on the money you borrow and decide on a repayment plan that fits your budget.