Is a debt consolidation loan worth it?

Currently I have $10,491.52 spread out between 6 accounts. Everything is current and I'm currently following the snowball method of debt payment. As it stands now I will be paying $2799.72 in interest of the next three years.

I can get a debt consolidation loan for $11,000 at 15.81%. This would be fore 36 months and the interest paid would be $2880.02. I really wouldn't be saving any much money.

At my current rate it will take about 3 years to pay off my CC's which is the term of the consolidation loan. Is there any good reason to get the consolidation loan?

The user above is absolutely right. Debt takes away your freedom. Even if the collectors have not yet begun to disturb you, the fact that you have a debt morally puts pressure on you and you cannot forget about it. That is why I advise you to pay attention to priority plus financial minimum credit score
Here you will find all the information on how you can get rid of or reduce debt.
Hope this helps you!

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