It’s typically considered for people who have high consumer debt.
When you’ve got more loans than you can keep track of – and you’re having a hard time making payments – a debt consolidation program may offer relief.
Before you sign up, learn how they work and evaluate if you really need to use one.
A debt consolidation program is a service to help you manage your debt.
With the help of a nonprofit credit counseling agency or for-profit company, you’ll set up a plan and a system to eliminate debt within three to five years.
Start with counseling: the first step of a debt consolidation program is counseling.