Costs And Benefits Of Loan Consolidation

Introduction Consumer credit in the U.S. has continued to grow, partly due to marketing by lenders (Zuckerman, 2000). Assessment of the benefits and costs of loan consolidation is increasingly important in light of aggressive advertising by creditors and the financial difficulty faced by many families. A procedure for assessing loan consolidation is presented in this article. An analysis of selected benefits and costs of clients over a 11 year period is reported. A tool for counselors and clients themselves to assess benefits and costs of loan consolidation is shown.