Consolidating for finances dating services for the mentally handicapped
Types of debt vary, and this influences what you can consolidate.
The first thing to determine is if your debt is secured or unsecured. For example, car loans and mortgages are secured debts.
The goal of consolidation is to have a lower payment at a lower interest rate than you currently have.
It can be confusing because debt consolidation is also used to refer to debt settlement programs as well.
While having one low rate and one payment is an attractive option, many people end up in similar or worse financial situations when attempting credit card debt consolidation.
With bankruptcy, you officially declare that you cannot pay your debts.