Consolidation — Your Ultimate Guide To Debt

If you clear your credit cards but don't stop spending, you could end up with a loan and new credit card balances.

Unlike a credit card, you must pay the set amount every month until the loan is done. Is it right for you? Your Ultimate Guide to Debt Consolidation

Reducing your "credit utilization" on cards can improve your score over time. The Bad: If you clear your credit cards but don't

You now focus on paying back the new loan over a set period, usually 2 to 5 years. Common Consolidation Methods Your Ultimate Guide to Debt Consolidation

One bill is much easier to track than five.