How does the debt consolidation plan work?

As can be gathered, debt consolidation refers to the combining of all your loans into one so that repayment becomes easy. Many people take it easy when spending but when it comes to repaying the credit card balances, they find themselves in a fix. Debt consolidation helps such people as they can consolidate their debts into one and pay a certain amount to the company. The company then disburses a specific amount each month to the various creditors.

Those that are looking for the best debt consolidation plan in Singapore can check with Maybank as it promises a lower rate of interest and a longer loan repaying term.

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