Debt consolidation is a popular option for combining payments. We help many financially burdened people with solutions.
The benefits of a debt consolidation loan are:
- Elimination or reduction of past interest and penalty:
If you borrowed $2,000 five years ago, you may now owe the credit card company thousands of dollars more. A debt consolidation program eliminates many of the interest and penalty charges, making your total liability much lower.
- Consolidation of Credit Cards:
If you have five credit cards, you are paying separate bills every month. Once you participate in a debt consolidation program, all of your accounts will be combined into one. You would then pay only one monthly bill instead of five.
- Reduction of average interest rate on the total amount:
With five credit cards, your highest interest rate may be 18%, and the lowest may be 12%. When you consolidate those bills, your combined interest rate is usually much lower. The new account might have an interest rate of only 8%, thereby reducing your average rate and monthly payment significantly.
- You become debt free sooner:
In many instances, it might take you ten to fifteen years to overcome your deficit situation. With a consolidation loan, you can usually become debt free in a much shorter period of time, which is a major goal for many people. In addition, it will improve your credit and remove some stress from your life. Call us today to ask about a consolidation loan.
Let us give you an idea of how we might be able to help lower your monthly payments, stop creditor harassment, and consolidate your bills into one easy payment.