Debt Consolidation Comparator
Personal loan, balance transfer, or settlement? Compare all 3 options to find your cheapest exit.
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💡 Consolidation Insight
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Frequently Asked Questions
When should I consolidate debt with a personal loan?
Consolidate with a personal loan when: (1) The loan rate is significantly lower than your current average debt rate, (2) You want a fixed payoff date, and (3) You can qualify for a loan. A personal loan at 14% beats credit cards at 36% dramatically.
Is balance transfer a good idea in India?
Balance transfers to 0% promo cards work well IF you can pay off the full balance during the promo period. If not, after-promo rates (30–42% in India) kick in and you're worse off. Calculate the required monthly payment to clear the balance and ensure it's feasible.
Does debt consolidation hurt credit score?
A personal loan application causes a small temporary dip (hard inquiry). If you successfully close credit card accounts, it can slightly lower your average account age. However, consistently paying the consolidated loan on time improves your score significantly over 12–24 months. Settlement causes severe, long-lasting damage.