Can consolidating debt really save you thousands effortlessly

Potential Pitfalls to Consider

While debt consolidation can be beneficial, it's important to consider potential drawbacks. For example, if you opt for a longer loan term to lower your monthly payments, you might end up paying more in total interest over time. Additionally, using secured loans like a home equity loan can put your home at risk if you default. It's crucial to weigh these factors and ensure that consolidation aligns with your financial goals.