Debt consolidation lets you roll several debts into one loan with a lower interest rate and longer payment term.That means you’ll pay less each month to just one lender instead of many.When you're choosing the term of a loan, consider the total amount of interest and fees you’ll pay.

Consolidating multiple credit accounts into one new loan with a single payment may help you lower your overall monthly expenses, increase your cash flow, and eliminate the stress of multiple monthly payments.

Debt consolidation is nothing more than a con because you think you're starting with a clean slate.

But the truth is the debt is still there, as are the habits that caused it—you just moved it!

View the Total Cost of Borrowing Before you apply, we encourage you to carefully consider whether consolidating your existing debt is the right choice for you.

Consolidating multiple loans means you'll have a single payment each month for that combined debt but it may not reduce or pay your debt off sooner.