Consolidating debts allows you to save a lot of money as you stop paying multiple interest. Imagine having to pay interest on top of each of your loans . By having only a portion or a loan you only have a single interest rate . And this is much lower than having to pay several installments monthly. More exposition at http://beneathbuddhaseyes.com
Late payments and non-payment negatively impact your score . When you have multiple loans, the trend is to have problems managing these expenses. In that case, debt consolidation is the best option to keep your credit score intact. Having to pay only a single loan is easier and improves your score instantly.
Businesses and billing offices call, send emails, and sms whenever you fail to pay the installments. There is also a good chance of unpleasant visits by the agencies. Debt consolidation helps you avoid all that kind of stress and hassle.
With the existence of a single installment, interest rate and monthly payment and no collections links, it is not surprising that debt consolidation does decrease stress levels. This also helps you to work towards getting rid of your single debt.