Other advantages include having fewer payments to make each month, and less likelihood that you'll be late on payments.
What you rarely hear about are the disadvantages of debt consolidation.
When it comes to debt consolidation, it's important to be aware of the advantages and disadvantages before you take on new debt.
Any disadvantages are usually specific to the particular method you use for consolidating – more on that below.Depending on the terms of your new loan, it's possible you can actually end up paying more in interest over the life of the loan, or that you'll end up more deeply in debt.Before agreeing to a debt consolidation arrangement, it's important to seek debt consolidation advice from a trusted financial professional. But it can also be a financial nightmare if you choose the wrong company.While the healthcare industry has gone through M&A waves before, this time around consolidation isn't a play for market dominance.For one thing, government regulators are watching closely and often are breaking up even completed mergers that they deem have local or regional monopoly at heart more than operating efficiencies.