• What Is Debt Consolidation?

    What Is Debt Consolidation?

    If you’re flooded in debt, one option that you may have heard about is debt consolidation. There are many pros and cons to using a debt consolidation program. Keep in mind that in order to qualify, you generally need at least $7,500 in unsecured debt. Here’s how debt consolidation works.   Debt Consolidation 101 The basis of debt consolidation works like this. Let’s say you have four different debts, all of which total up to $1,100 a month in debt payments. You simply can’t afford the payments anymore. Instead of defaulting or going into bankruptcy, you go to a debt consolidation company. The debt consolidation company will turn to your…