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    mpant in the United States; the average balance is nearly $3000. A single large balance might be manageable, but many people owe thousands of dollars on each of several credit cards, a problem that could lead ot a financial catastrophe. Debt consolidation companies promise solutions by offering a single loan to replace all of the small ones. For some people,
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    ght be manageable, but many people owe thousands of dollars on each of several credit cards, a problem that could lead ot a financial catastrophe. Debt consolidation companies promise solutions by offering a single loan to replace all of the small ones. For some people,
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    se solutions by offering a single loan to replace all of the small ones. For some people, that can work, but there are four things that should be considered before jumping in to a debt consolidation plan.

  • Interest rates – Any loan that replaces a credit card loan is usually a good idea, as credit card interest rates often exceed 20% per year. Debt consolidation loans usually have more affordable interest rates, but you should shop around

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