{"id":22492,"date":"2025-12-08T04:15:25","date_gmt":"2025-12-08T04:15:25","guid":{"rendered":"https:\/\/budgetadirect.com\/?p=22492"},"modified":"2025-12-08T04:15:26","modified_gmt":"2025-12-08T04:15:26","slug":"4-types-of-debt-you-can-consolidate-when-you-should","status":"publish","type":"post","link":"https:\/\/budgetadirect.com\/?p=22492","title":{"rendered":"4 Types of Debt You Can Consolidate &#038; When You Should"},"content":{"rendered":"<div xmlns:default=\"http:\/\/www.w3.org\/2000\/svg\">\n<div id=\"block_fa9a569de77df31659614df41300100f\" class=\"key-takeaways sm:border-l-4 border-(--accent) sm:pl-8 my-8 relative\" style=\"--accent: var(--color-blue-medium)\">\n    <!-- htmlmin:ignore --><\/p>\n<h2 class=\"heading-4 mt-0 mb-4 text-crop-none max-sm:flex max-sm:items-center max-sm:gap-4\" id=\"key-takeaways\" data-position=\"0\" data-beam-element-viewed=\"\" data-id=\"br-h2-0-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Key takeaways\" data-outcome=\"\">\n    <span class=\"shrink-0\">Key takeaways<\/span><br \/>\n        <span class=\"max-sm:h-0.5 max-sm:w-full max-sm:w-full max-sm:bg-(--accent) max-sm:rounded-full max-sm:block\"\/><br \/>\n    <\/h2>\n<p>    <!-- htmlmin:ignore --><\/p>\n<ul class=\"flex flex-col text-gray-700 mb-0 gap-2 list-disc\">\n<li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            Unsecured debt, such as credit cards, student loans, medical bills and high-interest loans can all be consolidated.\n                                                <\/li>\n<li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            Debt consolidation can simplify your bill-paying strategy by consolidating multiple accounts into one new loan with a single payment.\n                                                <\/li>\n<li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            Consolidating debt can save you money on interest and help you get out of debt faster, depending on your situation.\n                                                <\/li>\n<li class=\"pl-4 relative marker:text-(--accent)\">\n                                                            You may also be able to extend your repayment period but lower your monthly payment \u2014 however this will likely result in more interest paid.\n                                                <\/li>\n<\/ul>\n<\/div>\n<p>If you have a variety of different types of debt, you may be wondering which can be combined. Most people will consolidate one or a combination of the following four types of debt: credit cards, student loans, medical debt and high-interest personal loans.<\/p>\n<p>Knowing which debt you can consolidate \u2014 and when it makes sense to \u2014 can put you on track to save money on interest, pay debt balances off faster or both.<\/p>\n<h2 id=\"credit\" data-position=\"1\" data-beam-element-viewed=\"\" data-id=\"br-h2-1-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Credit card debt\" data-outcome=\"\">Credit card debt<\/h2>\n<p>Combining credit card debt is typically the most common reason people take out a debt consolidation loan. Borrowers often rack up credit card balances during the holidays, to cover emergencies or to make ends meet. Carrying balances on multiple cards can make it more likely that you\u2019ll forget a payment, carry balances too long and ultimately lower your credit score.<\/p>\n<h3>Why you should consolidate credit card debt<\/h3>\n<p>Consolidating credit card debt has financial benefits that include cost savings, potential credit score improvements and paying your debt off faster.<\/p>\n<h4>Cost savings<\/h4>\n<p>Credit card rates are typically very high. The average credit card rate is over 20 percent, compared to debt consolidation loans, which are typically much cheaper. For example, the average rate for a personal loan is just above 12 percent.<\/p>\n<p>If you paid off $10,000 worth of credit card debt that had a 20 percent APR with a new 60-month personal loan with a 13 percent rate, you could save a bundle compared to making minimum payments on your credit cards.<\/p>\n<div class=\"w-full overflow-x-auto\">\n<table class=\"wp-block-table wrapped\">\n<tbody>\n<tr>\n<td>\u00a0<\/td>\n<td><strong>Credit card<\/strong><\/td>\n<td><strong>Personal debt consolidation loan<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Total interest paid<\/strong><\/td>\n<td>$16,056.59<\/td>\n<td>$3,651.84<\/td>\n<\/tr>\n<tr>\n<td><strong>Monthly Payment<\/strong><\/td>\n<td>$266.67<\/td>\n<td>$227.53<\/td>\n<\/tr>\n<tr>\n<td><strong>Months to pay in full<\/strong><\/td>\n<td>364<\/td>\n<td>60<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>The personal debt consolidation loan saves you $12,404.75 over the life of the loan, $39.14 per month in payment and pays your loan off 25 years faster.<\/p>\n<h4>Faster payoff<\/h4>\n<p>Credit cards are a type of revolving credit. When credit is revolving, it means you can reuse it, again and again. You also have a minimum payment option, which usually pays little more than the interest charges each month. These two features often keep borrowers in credit card debt longer than they would be with an installment loan like a personal loan.<\/p>\n<p>With an installment loan, you receive all of your funds at once and pay the balance off over a fixed period. Most personal debt consolidation loan terms are between two and five years. That gives you a definite payoff date since the balance doesn\u2019t revolve like it does with a credit card.<\/p>\n<div class=\"TipBox flex sm:items-center gap-6 sm:gap-7 md:gap-8 mx-2 sm:mx-8 mb-8\">\n    <default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"TipBox-icon Icon icon-offset-blue-200 text-gray-900 icon-highlight-blue-600 mt-4 sm:-mt-4 md:-mt-1\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Star Icon<\/default:title><br \/>\n<default:path d=\"M8.244 24a1.92 1.92 0 0 1-1.19-.415 2.122 2.122 0 0 1-.778-2.042l.762-4.63a.706.706 0 0 0-.196-.622L3.61 13.01a2.15 2.15 0 0 1-.517-2.137c.238-.77.853-1.324 1.624-1.436l4.469-.675a.683.683 0 0 0 .516-.39l2.001-4.214C12.05 3.441 12.73 3 13.5 3c.77 0 1.451.45 1.796 1.16l2 4.213a.697.697 0 0 0 .517.39l4.47.675c.762.112 1.385.666 1.623 1.436a2.15 2.15 0 0 1-.517 2.137l-3.23 3.28a.73.73 0 0 0-.197.622l.762 4.63a2.127 2.127 0 0 1-.787 2.042 1.91 1.91 0 0 1-2.116.173l-3.993-2.19a.664.664 0 0 0-.648 0l-3.993 2.19A1.903 1.903 0 0 1 8.26 24h-.016Z\" fill=\"transparent\" class=\"icon-offset\"\/><default:path d=\"M6.494 23c-.439 0-.877-.145-1.246-.435a2.223 2.223 0 0 1-.816-2.14l.799-4.849a.74.74 0 0 0-.206-.653L1.64 11.488a2.253 2.253 0 0 1-.541-2.24c.249-.806.893-1.386 1.7-1.504l4.682-.707a.716.716 0 0 0 .542-.408l2.096-4.414C10.479 1.462 11.193 1 12 1c.807 0 1.52.471 1.881 1.215l2.096 4.414a.73.73 0 0 0 .542.408l4.681.707c.8.118 1.452.698 1.701 1.505.24.798.035 1.659-.54 2.239l-3.386 3.435a.764.764 0 0 0-.206.653l.8 4.85c.137.825-.181 1.64-.825 2.139a2.001 2.001 0 0 1-2.217.181l-4.183-2.293a.696.696 0 0 0-.679 0l-4.184 2.293c-.309.172-.644.254-.97.254h-.017ZM11.99 2.46a.713.713 0 0 0-.652.416L9.242 7.291c-.309.643-.893 1.097-1.58 1.196l-4.682.707a.717.717 0 0 0-.584.517.735.735 0 0 0 .18.752L5.961 13.9c.498.508.721 1.233.61 1.949l-.8 4.85a.735.735 0 0 0 .276.716c.232.181.524.2.773.063l4.184-2.293a2.015 2.015 0 0 1 1.95 0l4.183 2.293a.69.69 0 0 0 .773-.063.753.753 0 0 0 .284-.716l-.8-4.85a2.253 2.253 0 0 1 .61-1.949l3.385-3.435a.732.732 0 0 0 .18-.753.717.717 0 0 0-.583-.517l-4.682-.707c-.679-.1-1.272-.553-1.58-1.196l-2.097-4.415a.705.705 0 0 0-.653-.417h.017Z\" class=\"icon-base\"\/><\/default:svg>    <\/p>\n<p class=\"w-full mb-0\">\n        <strong class=\"font-bold\"><br \/>\n            Keep in mind:<br \/>\n        <\/strong><br \/>\n        If you have excellent credit, you could qualify for a low-interest personal loan with rates as low as 6.5 percent, allowing you to pay off your debt in a significantly shorter amount of time.\n    <\/p>\n<\/div>\n<h4>Credit score benefits<\/h4>\n<p>High credit card balances hurt your credit scores. Thirty percent of your FICO Score is set by how much of your available revolving credit you\u2019re using, also known as your credit utilization ratio. The more you use, the more it can drop your credit score.<\/p>\n<p>With a personal debt consolidation loan, you replace revolving credit balances with an installment loan, which doesn\u2019t impact your credit utilization ratio. Consolidating your debt and making the monthly payments is a sure-fire way to quickly increase your score by lowering your utilization levels \u2014 so long as you don\u2019t take on more revolving debt.<\/p>\n<section class=\"editorial-insight-box --insight-box +mg-vertical-md\" data-template=\"insight_box\">\n<div class=\"card-body border-l-4 border-blue-800\">\n<div class=\"content-wrapper\">\n<p>\n                    Bankrate insight\n                <\/p>\n<div class=\"content wysiwyg wysiwyg--flush\">\n<p>Financial experts often recommend a balance transfer credit card to pay off your outstanding credit card debt. With good credit, you may qualify for a balance transfer offer with an interest rate as low as 0 percent for six, 12 or even up to 24 months.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p>One caveat: Since the new balance transfer card is still a revolving account, the credit score benefit might not be as significant as using a personal loan. Even worse: If you don\u2019t pay down the balance by the end of the offer period, you could find yourself stuck with more high-interest debt \u2014 some may even be applied retroactively.<\/p>\n<h2 id=\"student\" data-position=\"2\" data-beam-element-viewed=\"\" data-id=\"br-h2-2-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Student loans\" data-outcome=\"\">Student loans<\/h2>\n<p>Student loan consolidation is a popular option for recent graduates who may have several student loans from pursuing undergraduate or even graduate degrees. However, consolidation is only possible for federal student loans taken out through the Department of Education.<\/p>\n<p>You may be able to consolidate both federal and private loans by refinancing with a private student loan lender. If you have excellent credit, private student loan refinance rates may be lower than what you\u2019re paying on your federal loans.<\/p>\n<h3>Why you should consolidate student loans<\/h3>\n<p>You may be able to lower your rate, spread out your loan term to lower your payment or simplify your monthly bill payments to just one student loan. It\u2019s important to remember that you\u2019ll lose access to federal student loan benefits if you use a private refinance loan.<\/p>\n<h4>Lower interest rate<\/h4>\n<p>You won\u2019t typically save money on a federal student loan consolidation, since the rate is the weighted average of your existing loans. Your best bet for a lower student rate is to boost your credit score as high as possible, so you\u2019re eligible for the lowest private student loan refinance rates.<\/p>\n<h4>Extended repayment term<\/h4>\n<p>The Direct Consolidation Loan program allows you to spread your payment out as long as 30 years, which could give you a substantially lower payment on your federal student loan balances.<\/p>\n<p>You may also be able to combine your federal balances with a private student loan refinance, with some lenders offering terms over 20 years in special cases. Just remember: The longer you take to pay the balance off, the more total interest you will pay.<\/p>\n<h4>Credit benefits<\/h4>\n<p>If you took out multiple student loans to complete an extensive education, you may have quite a pile of outstanding accounts to keep track of.<\/p>\n<p>By reducing your number of outstanding accounts, you might see your credit score improve a few points, since the number of outstanding accounts makes up 10 percent of your credit score.<\/p>\n<section class=\"editorial-insight-box --insight-box +mg-vertical-md\" data-template=\"insight_box\">\n<div class=\"card-body border-l-4 border-blue-800\">\n<div class=\"content-wrapper\">\n<p>\n                    Bankrate insight\n                <\/p>\n<div class=\"content wysiwyg wysiwyg--flush\">\n<p>Consolidating your student debt may also save your credit report in the long run if you miss your monthly payment and it shifts to delinquent status. When you consolidate, you only have one loan and therefore only one account will have a delinquent payment report. One late payment still isn\u2019t good for your credit score, but it\u2019s less damaging to your credit health than late payments on several student loan accounts.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<h2 id=\"medical\" data-position=\"3\" data-beam-element-viewed=\"\" data-id=\"br-h2-3-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Medical debt\" data-outcome=\"\">Medical debt<\/h2>\n<p>According to findings from the most recent West Health-Gallup Survey, 12 percent of Americans had to borrow money in the past 12 months to pay for healthcare for themselves or someone in their household. If you\u2019re sitting on dozens of unpaid bills and getting past-due notices, consolidating the debt may be a solution if you are not able to get financial assistance.<\/p>\n<h3>Why you should consolidate medical debt<\/h3>\n<p>Simplifying your payment schedule can remove a stress burden while you or a family member recover from a medical event. You\u2019ll have an easier time keeping track of bills, and may even realize some credit benefits if you end up avoiding collections for unpaid bills.<\/p>\n<h4>Make repayment more manageable<\/h4>\n<p>Personal loans can be a good method of consolidating medical debt if the payment options offered by providers are too expensive. A 0 percent interest credit card may also get the job done at a low cost, if you can pay the balance off within the no-rate promotional period.<\/p>\n<p>On the downside, consolidating medical debt means you\u2019ll most likely pay interest on it \u2014 at least if you pursue the personal loan route. Still, if these bills have been sitting there for a while, it may be worth a try.<\/p>\n<h4>Credit benefits<\/h4>\n<p>If your medical debt totals $500 or more and has been unpaid for a year or more since your doctor\u2019s appointment, the balance could be sent to collections, hurting your credit score. You can avoid getting negative marks on your report by consolidating the debts before they become excessively late.<\/p>\n<h2 id=\"personal\" data-position=\"4\" data-beam-element-viewed=\"\" data-id=\"br-h2-4-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Personal loans\" data-outcome=\"\">Personal loans<\/h2>\n<p>If you recently took out several high-interest-rate bad credit personal loans to consolidate credit card debt and improve your scores, it may be time to look at combining them into one new personal loan. Personal loan rates range from 6.5 percent to 36 percent, and even an improvement from bad to fair credit could reduce your personal loan rate by 5 to 10 percentage points.<\/p>\n<h3>Why you should consolidate personal loans<\/h3>\n<p>Having more than one personal loan can put a strain on your budget, and the fewer payments you have to keep an eye on, the less chance you\u2019ll miss a payment. Plus, if you\u2019ve been diligently taking steps to improve your credit score, it may have improved enough that you qualify for a much lower rate.<\/p>\n<h4>Save on interest<\/h4>\n<p>The most common reason to pay off several personal loans with a new one is to get a better interest rate. That said, the lowest rates typically go to borrowers with excellent credit for terms of three years.<\/p>\n<p>Make sure you can handle the higher payment that comes with a shorter term to avoid taking on a debt you can\u2019t afford.<\/p>\n<h4>Extend your repayment term<\/h4>\n<p>If you had to take out a short-term loan to qualify because of bad credit, but your credit scores have since improved, you may qualify for a longer term on a new personal loan. You\u2019ll pay more in total interest, but you can apply the extra monthly savings to the loan balance or boost your emergency savings account if it\u2019s running low.<\/p>\n<h2 data-position=\"5\" data-beam-element-viewed=\"\" data-id=\"br-h2-5-onpage-placement\" data-type=\"h2\" data-location=\"Editorial\" data-name=\"h2_all\" data-text=\"Bottom line\" data-outcome=\"\">Bottom line<\/h2>\n<p>There are not many types of debt that can\u2019t be consolidated. Although we\u2019ve covered credit cards, student loans, medical debt and personal loans here, you can also consolidate secured boat loans, auto loans and even mortgages on multiple homes.<\/p>\n<p>However, the ultimate goal should always be to save more and borrow less. Debt consolidation \u2014 if used wisely \u2014 can be a helpful tool to get your debt under control.<\/p>\n<div class=\"HelpfulCTA mx-auto flex flex-col items-center gap-6 my-6 py-12 text-base border-y border-gray-200\" data-helpful-cta=\"\" data-beam-element-viewed=\"\" id=\"did-you-find-this-helpful\" data-type=\"cta\" data-location=\"article-bottom\" data-position=\"banner\" data-text=\"Did you find this page helpful?\">\n<div class=\"HelpfulCTA-initial w-full flex flex-col items-center gap-4\" data-cta-initial=\"\">\n<div class=\"HelpfulCTA-question text-lg font-bold text-center text-gray-900\">\n            Did you find this page helpful?<\/p>\n<div id=\"z7oVeUtT86\" class=\"hidden\">\n<div class=\"wysiwyg wysiwyg--sm wysiwyg--flush max-w-xs\">\n<p class=\"mb-6 text-base\">\n                            <strong class=\"block font-bold text-gray-900\">Why we ask for feedback<\/strong><br \/>\n                            Your feedback helps us improve our content and services. It takes less than a minute to<br \/>\n                            complete.\n                        <\/p>\n<p>Your responses are anonymous and will only be used for improving our website.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Help us improve our content<\/p>\n<div class=\"HelpfulCTA-actions flex gap-4 mt-2\">\n            <button type=\"button\" class=\"HelpfulCTA-btn HelpfulCTA-btn--yes border border-2 border-blue-600 text-blue-600 rounded px-6 py-2 transition font-semibold flex items-center gap-2 hover:bg-blue-50\" data-cta-yes=\"\" data-beam-element-clicked=\"\" id=\"did-you-find-this-helpful-yes\" data-type=\"button\" data-location=\"article-bottom\" data-position=\"banner\" data-text=\"Yes\" data-outcome=\"response submitted\"><br \/>\n                <span class=\"Icon\"><default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Thumbs Up Icon<\/default:title><default:path d=\"M13.165 2.175c.322 0 .57.022.774.065.796.161 1.43.624 1.85 1.345.71 1.216.722 3.067.023 5.499h.516c2.28 0 3.422 0 4.337.548a3.844 3.844 0 0 1 1.721 2.25c.29 1.032 0 2.13-.592 4.336l-.516 1.926c-.312 1.151-.484 1.786-.882 2.324a3.368 3.368 0 0 1-1.442 1.098c-.625.247-1.28.248-2.475.248l-.021.01h-4.595c-.42 0-.636 0-.84-.032a4.19 4.19 0 0 1-.635-.15c-.204-.065-.387-.162-.763-.355l-1.69-.856c-.014.034-.026.069-.043.102a2.334 2.334 0 0 1-1.044 1.044c-.495.247-1.012.248-1.948.248h-.161c-.936 0-1.453 0-1.947-.248a2.333 2.333 0 0 1-1.044-1.044C1.5 20.038 1.5 19.52 1.5 18.585v-7.683c0-.936 0-1.452.248-1.947A2.387 2.387 0 0 1 2.792 7.91c.494-.248 1.01-.247 1.947-.247h.16c.937 0 1.454 0 1.95.247.353.177.653.44.875.763.64-.606 1.788-2.184 3.31-5.142.183-.366.312-.603.538-.819.193-.193.462-.355.72-.441.302-.097.539-.097.873-.097ZM4.739 9.288c-.624 0-1.076 0-1.227.076a.721.721 0 0 0-.323.322c-.075.15-.075.603-.075 1.216v7.683c0 .624 0 1.076.075 1.227.065.14.183.248.323.323.151.075.603.075 1.227.075h.16c.625 0 1.078 0 1.228-.075a.722.722 0 0 0 .323-.323c.075-.15.075-.603.075-1.227v-7.683c0-.624 0-1.065-.075-1.227a.672.672 0 0 0-.323-.322c-.15-.075-.603-.076-1.227-.076h-.161v.01ZM13.057 3.8c-.14 0-.226 0-.259.011-.032 0-.086.043-.107.064a2.98 2.98 0 0 0-.226.399c-2.187 4.272-3.53 5.647-4.33 6.092.003.162.004.34.004.536v7.82l2.217 1.122c.28.14.42.216.56.27.107.032.214.064.332.075.151.021.314.021.626.021h4.594c1.022 0 1.539 0 1.862-.129a1.84 1.84 0 0 0 .763-.58c.215-.28.355-.808.613-1.765l.517-1.927c.495-1.85.775-2.873.603-3.475a2.309 2.309 0 0 0-1-1.313c-.538-.323-1.594-.323-3.51-.323h-1.129c-.226 0-.473 0-.72-.15a1.087 1.087 0 0 1-.464-.614c-.075-.301 0-.528.076-.754.957-2.97.603-4.26.301-4.777-.183-.312-.44-.506-.774-.57-.14-.033-.377-.033-.549-.033Z\" class=\"icon-base\"\/><\/default:svg><\/span> <span class=\"text-base leading-4\">Yes<\/span><br \/>\n            <\/button><br \/>\n            <button type=\"button\" class=\"HelpfulCTA-btn HelpfulCTA-btn--no border-2 border-blue-600 text-blue-600 rounded px-6 py-2 transition font-semibold flex items-center gap-2 hover:bg-blue-50\" data-cta-no=\"\" data-beam-element-clicked=\"\" id=\"did-you-find-this-helpful-no\" data-type=\"button\" data-location=\"article-bottom\" data-position=\"banner\" data-text=\"No\" data-outcome=\"response submitted\"><br \/>\n                <span class=\"Icon\"><default:svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"Icon-glyph\" viewbox=\"0 0 24 24\" fill=\"currentColor\" focusable=\"false\"><default:title>Thumbs Down Icon<\/default:title><default:path d=\"M19.26 2.175c.936 0 1.454 0 1.949.247.452.226.818.592 1.044 1.043.247.495.248 1.012.248 1.948v7.678c0 .936 0 1.453-.248 1.948a2.333 2.333 0 0 1-1.044 1.042c-.495.248-1.013.248-1.95.248h-.16c-.937 0-1.454 0-1.95-.248a2.33 2.33 0 0 1-.885-.777c-.637.596-1.79 2.176-3.314 5.155-.183.365-.312.602-.538.828a1.924 1.924 0 0 1-.722.441c-.258.086-.484.097-.742.097l.022-.011a5.39 5.39 0 0 1-.905-.064 2.741 2.741 0 0 1-1.852-1.345c-.71-1.216-.721-3.066-.022-5.496h-.516c-2.283 0-3.424 0-4.34-.548a3.843 3.843 0 0 1-1.722-2.248c-.29-1.033 0-2.13.593-4.324l.517-1.925c.312-1.162.484-1.786.882-2.323.377-.495.872-.871 1.443-1.097.624-.248 1.281-.248 2.476-.248h4.597c.42 0 .635 0 .84.032.215.032.431.086.636.15.193.065.387.162.753.345l1.702.864c.017-.04.033-.082.053-.122a2.333 2.333 0 0 1 1.044-1.043c.496-.247 1.013-.247 1.95-.247h.16ZM7.503 3.798c-1.022 0-1.54 0-1.862.13-.302.118-.56.322-.765.58-.215.28-.345.775-.614 1.753l-.517 1.926c-.495 1.85-.775 2.871-.602 3.474a2.308 2.308 0 0 0 1 1.312c.539.323 1.594.322 3.51.322h1.142c.236 0 .473 0 .72.15.227.14.388.367.453.625.075.28 0 .516-.075.742-.959 2.969-.603 4.27-.301 4.775.183.312.44.506.774.57.162.033.41.033.572.033.128 0 .203 0 .236-.01.021 0 .085-.044.107-.065.032-.032.14-.237.227-.399 2.208-4.308 3.556-5.671 4.352-6.102a39.945 39.945 0 0 1-.003-.523v-7.79L13.63 4.175c-.28-.14-.41-.215-.56-.27a1.796 1.796 0 0 0-.344-.085c-.151-.022-.313-.01-.625-.022H7.503Zm11.596.001c-.625 0-1.077 0-1.228.076a.72.72 0 0 0-.323.322c-.075.15-.075.603-.075 1.226v7.68c0 .623 0 1.075.075 1.226.075.14.183.247.323.322.15.075.603.075 1.228.075h.16c.625 0 1.078 0 1.228-.075a.778.778 0 0 0 .324-.322c.075-.151.075-.603.075-1.227V5.423c0-.623 0-1.076-.075-1.226a.722.722 0 0 0-.324-.322c-.15-.076-.603-.076-1.227-.076h-.161Z\" class=\"icon-base\"\/><\/default:svg><\/span> <span class=\"text-base leading-4\">No<\/span><br \/>\n            <\/button>\n        <\/div>\n<\/p><\/div>\n<p>    <!-- Yes Form --><\/p>\n<p>    <!-- No Form --><\/p>\n<div class=\"HelpfulCTA-thankyou flex flex-col items-center gap-2\" data-cta-thankyou=\"\" style=\"display:none;\">\n<p>Thank you for your<br \/>\n            feedback!<\/p>\n<p>Your input helps us improve our<br \/>\n            content and services.<\/p>\n<\/p><\/div>\n<\/div><\/div>\n<p>Read the full article <a href=\"https:\/\/www.bankrate.com\/personal-finance\/debt\/types-of-debt-you-can-consolidate\/\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key takeaways Unsecured debt, such as credit cards, student loans, medical bills and high-interest loans can all be consolidated. Debt consolidation can simplify your bill-paying strategy by consolidating multiple accounts into one new loan with a single payment. Consolidating debt can save you money on interest and help you get out of debt faster, depending<\/p>\n","protected":false},"author":1,"featured_media":22493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54],"tags":[],"class_list":{"0":"post-22492","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-dept-management"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>4 Types of Debt You Can Consolidate &amp; When You Should | BudgetADirect<\/title>\n<meta name=\"description\" content=\"Key takeaways Unsecured debt, such as credit cards, student loans, medical bills and high-interest loans can all be consolidated. Debt consolidation can\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/budgetadirect.com\/?p=22492\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"4 Types of Debt You Can Consolidate &amp; When You Should | BudgetADirect\" \/>\n<meta property=\"og:description\" content=\"Key takeaways Unsecured debt, such as credit cards, student loans, medical bills and high-interest loans can all be consolidated. Debt consolidation can\" \/>\n<meta property=\"og:url\" content=\"https:\/\/budgetadirect.com\/?p=22492\" \/>\n<meta property=\"og:site_name\" content=\"BudgetADirect\" \/>\n<meta property=\"article:published_time\" content=\"2025-12-08T04:15:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-08T04:15:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/12\/Loans_What_debts_can_be_consolidated_4_types_to_consider_combining.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/budgetadirect.com\/?p=22492#article\",\"isPartOf\":{\"@id\":\"https:\/\/budgetadirect.com\/?p=22492\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/budgetadirect.com\/#\/schema\/person\/60f83002f7bcaf7b883198f8da222a50\"},\"headline\":\"4 Types of Debt You Can Consolidate &#038; When You Should\",\"datePublished\":\"2025-12-08T04:15:25+00:00\",\"dateModified\":\"2025-12-08T04:15:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/budgetadirect.com\/?p=22492\"},\"wordCount\":1805,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/budgetadirect.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/budgetadirect.com\/?p=22492#primaryimage\"},\"thumbnailUrl\":\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/12\/Loans_What_debts_can_be_consolidated_4_types_to_consider_combining.jpg\",\"articleSection\":[\"Debt Management\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/budgetadirect.com\/?p=22492#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/budgetadirect.com\/?p=22492\",\"url\":\"https:\/\/budgetadirect.com\/?p=22492\",\"name\":\"4 Types of Debt You Can Consolidate & When You Should | BudgetADirect\",\"isPartOf\":{\"@id\":\"https:\/\/budgetadirect.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/budgetadirect.com\/?p=22492#primaryimage\"},\"image\":{\"@id\":\"https:\/\/budgetadirect.com\/?p=22492#primaryimage\"},\"thumbnailUrl\":\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/12\/Loans_What_debts_can_be_consolidated_4_types_to_consider_combining.jpg\",\"datePublished\":\"2025-12-08T04:15:25+00:00\",\"dateModified\":\"2025-12-08T04:15:26+00:00\",\"description\":\"Key takeaways Unsecured debt, such as credit cards, student loans, medical bills and high-interest loans can all be consolidated. Debt consolidation can\",\"breadcrumb\":{\"@id\":\"https:\/\/budgetadirect.com\/?p=22492#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/budgetadirect.com\/?p=22492\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/budgetadirect.com\/?p=22492#primaryimage\",\"url\":\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/12\/Loans_What_debts_can_be_consolidated_4_types_to_consider_combining.jpg\",\"contentUrl\":\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/12\/Loans_What_debts_can_be_consolidated_4_types_to_consider_combining.jpg\",\"width\":1280,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/budgetadirect.com\/?p=22492#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/budgetadirect.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"4 Types of Debt You Can Consolidate &#038; When You Should\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/budgetadirect.com\/#website\",\"url\":\"https:\/\/budgetadirect.com\/\",\"name\":\"BudgetADirect\",\"description\":\"Latest Personal Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/budgetadirect.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/budgetadirect.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/budgetadirect.com\/#organization\",\"name\":\"BudgetADirect\",\"url\":\"https:\/\/budgetadirect.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/budgetadirect.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2024\/03\/d-icon.png\",\"contentUrl\":\"https:\/\/budgetadirect.com\/wp-content\/uploads\/2024\/03\/d-icon.png\",\"width\":512,\"height\":512,\"caption\":\"BudgetADirect\"},\"image\":{\"@id\":\"https:\/\/budgetadirect.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/budgetadirect.com\/#\/schema\/person\/60f83002f7bcaf7b883198f8da222a50\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/budgetadirect.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1afc2a88d343f74495db9a6a6ab9121bdc256a1100a11173bc6d587e4613fb13?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1afc2a88d343f74495db9a6a6ab9121bdc256a1100a11173bc6d587e4613fb13?s=96&d=mm&r=g\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/budgetadirect.com\"],\"url\":\"https:\/\/budgetadirect.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"4 Types of Debt You Can Consolidate & When You Should | BudgetADirect","description":"Key takeaways Unsecured debt, such as credit cards, student loans, medical bills and high-interest loans can all be consolidated. Debt consolidation can","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/budgetadirect.com\/?p=22492","og_locale":"en_US","og_type":"article","og_title":"4 Types of Debt You Can Consolidate & When You Should | BudgetADirect","og_description":"Key takeaways Unsecured debt, such as credit cards, student loans, medical bills and high-interest loans can all be consolidated. Debt consolidation can","og_url":"https:\/\/budgetadirect.com\/?p=22492","og_site_name":"BudgetADirect","article_published_time":"2025-12-08T04:15:25+00:00","article_modified_time":"2025-12-08T04:15:26+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/12\/Loans_What_debts_can_be_consolidated_4_types_to_consider_combining.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/budgetadirect.com\/?p=22492#article","isPartOf":{"@id":"https:\/\/budgetadirect.com\/?p=22492"},"author":{"name":"News Room","@id":"https:\/\/budgetadirect.com\/#\/schema\/person\/60f83002f7bcaf7b883198f8da222a50"},"headline":"4 Types of Debt You Can Consolidate &#038; When You Should","datePublished":"2025-12-08T04:15:25+00:00","dateModified":"2025-12-08T04:15:26+00:00","mainEntityOfPage":{"@id":"https:\/\/budgetadirect.com\/?p=22492"},"wordCount":1805,"commentCount":0,"publisher":{"@id":"https:\/\/budgetadirect.com\/#organization"},"image":{"@id":"https:\/\/budgetadirect.com\/?p=22492#primaryimage"},"thumbnailUrl":"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/12\/Loans_What_debts_can_be_consolidated_4_types_to_consider_combining.jpg","articleSection":["Debt Management"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/budgetadirect.com\/?p=22492#respond"]}]},{"@type":"WebPage","@id":"https:\/\/budgetadirect.com\/?p=22492","url":"https:\/\/budgetadirect.com\/?p=22492","name":"4 Types of Debt You Can Consolidate & When You Should | BudgetADirect","isPartOf":{"@id":"https:\/\/budgetadirect.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/budgetadirect.com\/?p=22492#primaryimage"},"image":{"@id":"https:\/\/budgetadirect.com\/?p=22492#primaryimage"},"thumbnailUrl":"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/12\/Loans_What_debts_can_be_consolidated_4_types_to_consider_combining.jpg","datePublished":"2025-12-08T04:15:25+00:00","dateModified":"2025-12-08T04:15:26+00:00","description":"Key takeaways Unsecured debt, such as credit cards, student loans, medical bills and high-interest loans can all be consolidated. Debt consolidation can","breadcrumb":{"@id":"https:\/\/budgetadirect.com\/?p=22492#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/budgetadirect.com\/?p=22492"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/budgetadirect.com\/?p=22492#primaryimage","url":"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/12\/Loans_What_debts_can_be_consolidated_4_types_to_consider_combining.jpg","contentUrl":"https:\/\/budgetadirect.com\/wp-content\/uploads\/2025\/12\/Loans_What_debts_can_be_consolidated_4_types_to_consider_combining.jpg","width":1280,"height":720},{"@type":"BreadcrumbList","@id":"https:\/\/budgetadirect.com\/?p=22492#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/budgetadirect.com\/"},{"@type":"ListItem","position":2,"name":"4 Types of Debt You Can Consolidate &#038; When You Should"}]},{"@type":"WebSite","@id":"https:\/\/budgetadirect.com\/#website","url":"https:\/\/budgetadirect.com\/","name":"BudgetADirect","description":"Latest Personal Finance News and Updates","publisher":{"@id":"https:\/\/budgetadirect.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/budgetadirect.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/budgetadirect.com\/#organization","name":"BudgetADirect","url":"https:\/\/budgetadirect.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/budgetadirect.com\/#\/schema\/logo\/image\/","url":"https:\/\/budgetadirect.com\/wp-content\/uploads\/2024\/03\/d-icon.png","contentUrl":"https:\/\/budgetadirect.com\/wp-content\/uploads\/2024\/03\/d-icon.png","width":512,"height":512,"caption":"BudgetADirect"},"image":{"@id":"https:\/\/budgetadirect.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/budgetadirect.com\/#\/schema\/person\/60f83002f7bcaf7b883198f8da222a50","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/budgetadirect.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1afc2a88d343f74495db9a6a6ab9121bdc256a1100a11173bc6d587e4613fb13?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1afc2a88d343f74495db9a6a6ab9121bdc256a1100a11173bc6d587e4613fb13?s=96&d=mm&r=g","caption":"News Room"},"sameAs":["https:\/\/budgetadirect.com"],"url":"https:\/\/budgetadirect.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/budgetadirect.com\/index.php?rest_route=\/wp\/v2\/posts\/22492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/budgetadirect.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/budgetadirect.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/budgetadirect.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/budgetadirect.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22492"}],"version-history":[{"count":1,"href":"https:\/\/budgetadirect.com\/index.php?rest_route=\/wp\/v2\/posts\/22492\/revisions"}],"predecessor-version":[{"id":22494,"href":"https:\/\/budgetadirect.com\/index.php?rest_route=\/wp\/v2\/posts\/22492\/revisions\/22494"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/budgetadirect.com\/index.php?rest_route=\/wp\/v2\/media\/22493"}],"wp:attachment":[{"href":"https:\/\/budgetadirect.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/budgetadirect.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/budgetadirect.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}