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Bad debt consolidation is a necessary and often times worrisome consideration for most people. What you may not realize is that bad debts are costly the way they are. Many people have high interest rates applied to the loans. Others have over the limit fees, late payments, as well as other charges added to their accounts just about every month, which makes that minimum payment worthless. What’s more, if you paid only the minimum payment on your debts each month, chances are good it will take 10, 20, or even longer to pay off the debt in full. Therefore, if you have bad debt, consolidation may be the best route for you to take.