India, April 21 -- justify;">Having to manage multiple debts, such as credit card debts, personal loans, or payments for several EMIs, can be stressful and confusing. Keeping track of repayment dates, interest rates, and total outstanding amounts for numerous loans becomes difficult when you have several. This can affect your credit scores and limit your ability to save. To address this, consolidating loans into a single loan may be a solution, such as with a debt consolidation loan like the FIRSTmoney smart personal loan from IDFC FIRST Bank.

Debt consolidation involves combining multiple loans into a single loan with one monthly repayment, often at a potentially lower interest rate. This can simplify debt repayment compared to handling...