One simple method of do it yourself debt consolidation is to consolidate all of your loans to a credit card with a low or 0% interest rate. This can be a easy way to consolidate and is generally free.
However, if you try to implement this method, keep in mind that it is mostly a temporary fix. Low interest rates on a credit card usually only last 6 months. If you don’t have a realistic plan to pay off the debt, it is possible that you’ll end up worse off after consolidating all your loans to the card.
While this might be a good short term strategy, you need to make sure you have a plan to actually pay off the debt–not just consolidate it into yet another loan.
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