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tatcoco

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WHEN TO DO A DEBT CONSOLIATION LOAN

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When it makes financial sense.  If you can consolidate your current loans into one loan with a lower interest rate then you will save money in the long run (be sure to count in any fees for the new loan, like balance transfer fees to make sure you are saving money in the long run).  Just remember, don't close out the old credit cards, keep them alive or your score will drop.  Also remember not to run up big balances on the paid off cards or you'll get yourself into bigger trouble.  Just keep a 1-3% balance on at least one credit card and it will increase your score.  Any other cards just use once a year to keep them active.  Best of luck!

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