Debt consolidation can sound simple: combine the debt, lower the payment, and finally get some breathing room. But a smaller monthly payment, a 0% offer, or seeing a credit card reach a $0 balance doesn’t automatically mean the underlying problem has been solved.

In this episode of The Real Credit Talk Show, Tiana Mayers (Lady T) takes a closer look at the consolidation conversation and the important distinctions consumers often miss.

This episode explores the differences between consolidation loans, balance transfers, nonprofit debt-management plans, and debt settlement—because although these options are often discussed as if they accomplish the same thing, they can work very differently.

We’re talking about what happens when a lower payment comes with a longer repayment period, what to conside ...