Are consolidating

But most of the time, after someone consolidates their debt, the debt grows back. They still don’t have a game plan to pay cash and spend less.

They also probably haven’t saved for all of the “unexpected events,” which will eventually become debt too.

The bulk of the consumer debt, especially that with a high interest, is repaid by a new loan.

Most debt consolidation loans are offered from lending institutions and secured as a second mortgage or home equity line of credit.

You can’t borrow your way out of debt in the same way you can’t get out of a hole by digging out the bottom.

Getting out of debt isn’t quick or easy, but it’s the first step to achieving lasting financial health. It simply means you’re taking out one loan to pay off a bunch of loans—or consolidating the debt to one payment.

It’s typically considered for people who have high consumer debt.

Advertisement Dimitris Bertsimas, co-director of MIT’s Operations Research Center, said the computer model that he and two doctoral students developed created the efficiencies in the busing system by looking “at billions and billions of permutations.”“Only a computer model can do that,” he said.

“Humans are incapable of doing these computations.”Boston has been struggling for years to curtail transportation spending.