Insights
Details that matter
Combining balances changes how commitments are organized, but does not by itself establish a saving. Term, charges, security and any remaining accounts can alter the outcome.
Remaining cost is the relevant starting point for refinancing
Past interest already paid belongs to the history of an agreement.
Consolidation can simplify administration without reducing cost
Combining several due dates into one may change how a household manages payments.
Changing debt security changes the downside of refinancing
Replacing unsecured obligations with secured credit may put an asset into a different contractual position.