What is Debt Consolidation Loan?

A financial product called a debt consolidation loan enables you to roll many smaller loans into one bigger one. Various high-interest obligations (such as credit card balances, personal loans, or medical expenses) are combined into one loan with a lower interest rate and fixed monthly payments as part of debt consolidation in order to streamline your debt management. The total amount of interest you pay may be decreased as a result, and managing your payments will be simpler.