If you’re lucky, you don’t think about your debt very often. Most of us owe money, sometimes a pretty good chunk of it, and if it’s not keeping us up at night, we feel like we’re in a pretty good place, right?
Pay things on time (at least most of the time), put food on the table, maybe even sometimes splurge a little or spoil someone you love, and we feel like we’re livin’ the dream.
What if we told you that things could be even better? Like, save-a-bunch-of-money-and-be-debt-free-faster-better? If that sounds good to you (And it does, admit it.) then a Debt Consolidation Loan might be just the thing!
1. What is a Debt Consolidation Loan?
A Debt Consolidation Loan is designed to help you pay off high-rate debt, simplify your life, and save money in the long run.
2. How does it do that?
With a Debt Consolidation loan, you pay off or pay down your most expensive debt – things like credit cards, lines of credit, or other personal loans with a high-interest rate or complicated terms – and organize that debt into one easy-to-manage payment.
You’ll save time by not having to manage and track multiple payments every month, which is awesome, but the best part is definitely the money you’ll save by paying off your debt faster and (typically) at a lower rate of interest.
3. Is it right for me?
Good question! And the answer is ‘It might be (but we have other ideas if it isn’t)’. Debt consolidation loans are a great option for a lot of people, especially if you’ve accumulated a lot of different high interest-debt over the course of just living your life.
Things like store credit cards, furniture or appliances bought on credit, and even that car you bought when you thought your credit was bad may have low monthly payments, but the interest charges and payment terms will add up until you’re paying WAY MORE than they’re worth.
If you’re keeping up on all those monthly payments, but feeling like you can’t get ahead, a Debt Consolidation Loan might be just the thing to get you back on track.
4. Will it change my monthly payment amount?
This might surprise you but it probably won’t, because that’s not really what it’s for. To save you every hard-earned penny we possibly can, we’ll structure your loan to pay roughly what you’re paying now so you can pay your debt off faster.
Need a little more wiggle room every month? Our Lending Pros will help you find the payment and term that works for you and your budget.
5. How might debt consolidation affect my credit score?
Your credit score is unique, just like you, so a Debt Consolidation Loan will be a little different for everyone. If you’ve struggled with escalating debt or late payments, there’s a good chance you can improve your credit by getting back on track and paying on time.
And here’s a bonus: if you set up automatic payments through our online banking, you’ll never miss a one. Want a Super-Extra Bonus? Set those payments up Bi-weekly instead, pay off your loan faster, and save even more money!
If this all sounds great (And we’ve already agreed that it does) there’s no reason to wait!Click Here to Apply Online Right Now!