Debt Consolidation: What to Compare

Debt consolidation can simplify several payments into one, but simplification does not automatically mean savings.

Before consolidating, compare:

• Existing credit-card APRs
• New loan APR
• Origination fees
• Monthly payment
• Repayment term
• Total repayment
• What happens to the paid-off cards

The biggest behavioral risk is rebuilding card balances after moving the old balances into a personal loan.

Related:

• Comparing Personal Loans
• Loan Affordability Budget

Additional finance research: EasyLoanWorld.