Tag: multiple loans

Imagine you have a total credit card debt of ₹2,50,000. With an interest rate of 24%, your monthly interest is around ₹5,000, making it hard to pay down the principal. Debt consolidation can offer relief.  Here’s how: By combining all debts into a single loan at a lower rate—say, 12%—your monthly interest drops to ₹2,500. That’s half of what you were paying before! Debt consolidation is a popular debt relief solution, but it’s not the only one. A consumer proposal is another option that can help. But how do these two...