What is the primary goal of debt consolidation?

A) To increase the total amount of debt owed.

B) To combine multiple debts into a single, often lower-interest, payment.

C) To immediately eliminate all outstanding debt.

D) To transfer debt from one person to another.

Explanation

Debt consolidation aims to simplify debt repayment by combining several smaller debts into one larger loan, often with a lower interest rate or a more manageable single monthly payment.

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