And cons of consolidating debt

by  |  19-Nov-2015 06:04

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A default on a home equity debt consolidation loan can cause a foreclosure.

A debt consolidation loan allows consumers to wrap all their debts into one monthly payment, often at a lower interest rate than credit card companies charge.

Your grace period on some loans could end prematurely, or you may end up consolidating at the wrong time – too early or too late.

Not all student loan debts can be consolidated, although most federal loans can.

You can only consolidate student loan debt once, which means that if you consolidate today but would have realized greater benefits by consolidating two years from now, there is nothing you can do.

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