Since you have a credit card, the chance that you carry a balance is fairly high - and so is the chance that the interest rate on your credit cards is fairly high, too.So, how can you avoid paying such high interest rates to the credit card companies whom you owe?Here's how it works: P2is an online provider of personal loans.
A consolidation loan refers to financing that you take out in order to consolidate a specific type of debt.
In general, you can only combine similar types of debt with a single loan.
However, there are specific instruments called debt consolidation loans, offered by creditors as part of a plan to borrowers who have difficulty managing the number or size of their outstanding debts.
Creditors are willing to do this for several reasons – one of them being that it maximizes the likelihood of collecting from a debtor.
Consumers can use debt consolidation as a tool to deal with student loan debt, credit card debt and other types of debt.