Credit consolidation is a financial strategy that allows individuals to combine multiple debts into a single, more manageable loan. For those struggling with high-interest credit card debt, student loans, or personal loans, credit consolidation can be a lifeline to financial stability. By securing a lower interest rate and reducing the number of monthly payments, borrowers can regain control over their finances while working toward becoming debt-free.

Debt consolidation is a financial strategy that many borrowers, including student loan holders, consider when managing multiple debts. It involves combining multiple loans into a single payment, often with a lower interest rate or an extended repayment period. However, a common concern among borrowers is: does debt consolidation hurt your credit? This question is crucial, as a good credit score is essential for securing favorable financial opportunities in the future.