Reported about 1 month ago
Debt consolidation can help reduce high-interest costs by combining multiple debts into a single lower-interest loan, especially beneficial in today's high-interest environment. However, Prosper CEO David Kimball emphasizes the importance of changing spending habits to avoid accumulating more debt on credit cards, which may counteract the advantages of consolidation. Financial awareness and disciplined budgeting are critical for making this strategy effective.
Source: YAHOO