If you’re thinking of consolidating your debt, but your interest rate is going to remain the same, you may want to think twice. The situation may or may not be feasible for you, and whether or not it is will depend on a number of factors.
First you need to ask yourself why you’re consolidating your debt if you’re not getting a lower interest rate. If you have multiple bills and you just don’t have the time to manage them each month, a debt consolidation may be the answer you’ve been looking for.
You might also want to look at a debt consolidation with the same interest rate if you need to consolidate your debts for a lower monthly payment. Even though the interest rate is remaining the same, the payments can be lessened if the debt is paid off over a longer period of time.
However, if the consolidation doesn't offer any of these benefits for you, you may want to rethink your decision.