HOW TO PAY OFF YOUR DEBT FASTER
What is a debt consolidation?
In a nutshell, this involves taking out one big loan, which you use to pay off your current debts. Once your outstanding debts have been paid off, you’ll just have one payment to make each month towards your consolidation loan.
A debt consolidation is helpful in that it accomplishes three things.
First, it lowers your interest rate. Many credit cards have high interest rates – some as high as 27% – and if you haven’t been making more than your monthly payments, chances are your balance isn’t going down very quickly because of the interest charges. A good debt consolidation loan has a lower interest rate than the credit cards you are consolidating, which saves you money in the long run because more of your payment will go towards paying down your debt.
Marg Mortgages works with our partner to help you plan for the future with an unsecured personal loan! We offer.........
- $5,000-$35,000
- Rates starting as low as 6%
- 6 months to 5 year terms
- Funding within 24 hours
- Soft credit pull to qualify
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