Personal Debt Consolidation Official

Personal debt consolidation is a financial strategy that combines multiple high-interest debts—such as credit card balances, medical bills, or personal loans—into a single monthly payment, ideally with a lower interest rate. This process streamlines your finances and can save you thousands in interest charges while providing a clear timeline to becoming debt-free. Common Consolidation Methods

For more detailed regulatory information on your rights as a borrower, visit the Consumer Financial Protection Bureau (CFPB) . personal debt consolidation

: Your score dictates the rates you qualify for. High scores (mid-600s+) typically get the best offers. Personal debt consolidation is a financial strategy that

: Unsecured personal loans from banks, credit unions, or online lenders like Prosper . These typically offer fixed interest rates (often 6%–15%) and fixed terms of two to seven years. : Your score dictates the rates you qualify for

: List every balance you want to clear, including its current interest rate and monthly payment.

There are several ways to consolidate debt depending on your credit profile and assets:

: Use comparison tools on NerdWallet to check potential rates with a "soft" credit pull, which won't hurt your score.