Pros and cons of debt consolidation: Is it a good idea?
Weigh the pros and cons to decide if debt consolidation is right for your situation.
Jane Nam is a former writer on the Bankrate Loans team. She was passionate about breaking down complex numbers in a way that is simple and accessible. Her background includes survey development, data storytelling and deep-dive research.
Her work has been cited by many outlets including The New York Times, Forbes, Vox and the Harvard Business Review.
Jane lives in New York City. In her spare time, she enjoys running, cooking and hosting. She is in search of the city's best cinnamon roll.
Loan rates, loan forgiveness, debt consolidation, monthly payments — these terms can feel overwhelming and confusing. But a quick search on Bankrate can make a world of a difference.
Jane believes data is empowering and has the potential to work for you rather than against. She is always on the lookout for the latest data drops to keep numbers most up-to-date for readers.
Let's look at the data!
— Jane Nam
Weigh the pros and cons to decide if debt consolidation is right for your situation.
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