It seems like a simple concept, but some people do find themselves in a vicious cycle of only paying the minimum amount. Ted Michalos explains why paying more than the minimum benefits the consumer.
Debt consolidation loans are one of the several debt relief options consumers can use to help them deal with debt. Explore how these loans work, pros and cons, and if consolidation makes sense for you.
Debt consolidation loans can help you consolidate debt but before you approach a lender review the possible costs and risks of using this option for debt relief.