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People often turn to debt consolidation by taking out a second mortgage, unsecured loan, or using high-interest finance storefronts to pay off multiple bills. However, this doesn't solve the underlying issue of overspending and lack of budgeting. 88% of people who consolidate debt continue to overspend and go further into debt because they don't change their habits. Borrowing more does not solve the problem, it just moves it around.