Why do many people take out loans? Oftentimes, it’s because they don’t have the finances necessary to pay off something. In many cases, this is called debt. Debts are one of the major annoyances people will face when it comes to a shortage in their finance. But you don’t have to succumb to the debt trap. There’s a way for you to address it: through a debt consolidation loan. What is it? A debt consolidation loan allows you to combine all your debts into a single, lower interest rate loan. It is particularly beneficial when you have high-interest rates debts. Combining your debts this way allows you to lower your monthly payment and makes it easier for you to afford your monthly bills. General