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Debt consolidation entails taking out one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan. more at Wikipedia

Treatment Success Rate

Top 5 Communities
Condition Members Success
Financial Challenges
254
70%
Overall, 70% (254 Members) find Debt Consolidation helpful
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Debt Consolidation Reviews

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Working / Worked
Moving things to create space
Working / Worked
This is helping quite a bit and is linked with my Credit Counseling program. There is low interest, so the money gets applied to the principle right away.
Working / Worked
We've done this at least twice before and it does work- provided we don't start charging again.
Working / Worked
I did a balance transfer to consolidate my debt and now I'm paying it offf.
Working / Worked
We get so many offers for 0% cards. But we only transfer cap or it will save us in the end, otherwise it's not worth it. Just because it's 0%interest it doesn't mean it's a good deal.
Working / Worked
Worked till I ran out of money and became unemployed because of my health
Working / Worked
We were able to take alot of our debt an dput it on 0% credit cards and even though I know many financial counselors will tell you not to do this we were able to do this for several years by flipping cards until we had our debt paid off, We were even able to purchase my husbands car with a credit card check,escaping the large percent fees you usually get caught with but you MUST pay more than the minimum.
Working / Worked
Made 5 year contract to pay all but one credit card.
Working / Worked
I had student loan and car payment and some medical bills; seemed like every check was gone before I even cashed it so I got loan from bank and now my payments are half what I was making!!
Working / Worked
just got mor in debt
Showing 11 - 20 of 276 Reviews
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