A Debt Consolidation Loan is a type of personal loan that allows you to combine multiple high-interest debts—such as credit cards, medical bills, or other loans—into a single, more manageable monthly payment. This loan often comes with a lower interest rate and a fixed repayment term, making it easier to budget and potentially saving you money over time. Debt consolidation can help simplify your finances, reduce stress, and put you on a clearer path to becoming debt-free.