Debt Consolidation

The most useful number in bad credit lending is not the average rate, it is the spread. In LendingTree marketplace data from late 2025, borrowers with scores under 580 averaged 30.02% APR on consolidation loans, while the best offers for that same group averaged 28.80%, and federal credit unions were capping comparable loans at 18%…

Quick answer: Debt consolidation means combining several debts into one new loan or credit card, ideally at a lower interest rate, so you have a single payment instead of many. It can save real money and simplify your life, but only if you qualify for a better rate and you stop adding new debt. It…