FINANCE
Debt Consolidation's Hidden Trade-Off
Lower payments can mean a higher total cost.
The Allure of One Payment
Combining loans can cut your monthly outlay by 20-30%. But the mechanism has a significant catch.
The Extended Term Cost
A lower payment often comes from a longer term, increasing the total interest paid over 3-5 years.
Run the Consolidation Math
The full article details how to calculate your break-even point and compare lender terms.
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