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Debt consolidation can giveyour financesa fresh start.
On the surface, this might seem like the obvious choice, but its not that simple.
Its important to educate yourself on the potential negative aspects of this popular financial move.
To get you started, Lynch shared threesigns that debt consolidation isnt the best choice for you.
He added that theres more involved with a debt consolidation loan than simply getting a better interest rate.
If youre considering a zero-percent balance transfer card, he said the same would be true.
This, of course, would make your debt consolidation loan relatively useless.
He said participating in a free counseling session such as one offered by the FCAA can be invaluable.
They arent lenders and they wont judge your behavior, he said.
Ultimately, debt consolidation can be a good choice for your finances, but it isnt right for everyone.
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