Debt consolidation loan is a perfect way to repay your multiple debts from different sources. It provides an ideal solution for those, having multiple credit cards (or other creditors) to repay all their multiple debts with just one repayment on debt consolidation loan. However, one should be careful in using debt consolidation as it can take you more into debt.
Now whether to debt consolidate or not?
Many of the Payplan clients have found that consolidating debt did not solve their problem, even in some cases their debt amount increased. These Payplan clients later tried other debt solutions like debt management plan or IVA and got free and professional advice from Payplan organization.