What are the downsides of getting a debt consolidation loan for about 11k credit card debt? I know I need to get my financial life in order, I’m paying around $300-$400/month in minimum payments and trying to keep track of like 9-10 different cards. I was thinking of going to my bank (a credit union) and seeing if they could help me out with debt consolidation, but honestly I’m so new to this stuff. I don’t have my parents or anyone in my life really to help guide me when it comes to personal finance, but I have a friend whose mother recommended this to her and she recommended it.

I would really appreciate guidance or insight if anyone has any! Are there any downsides? My credit is only fair too so I’m hoping the loan will fix it. Is this a good or bad financial decision?