Why do people take a debt consolidation loan?

Hey guys! Could you please tell me why people take a debt consolidation loan? Is it really an effective method to get rid of debts? Thanks in advance!

A debt consolidation loan is a loan taken to pay off all your other loans. A debt consolidation loan can be secured and unsecured. Usually, people borrow a debt consolidation loan to easily manage their repayments and save money on interest by getting a lower-cost loan. If your financial situation has improved, you should try to look for a competitive interest rate debt consolidation loan. I think you should take a look at the advantage preferred financial loan reviews. In my opinion, this company is the best in debt consolidation and can definitely help you get rid of all your debts.