Debt consolidation may help you regain control of your finances

Tara – Branch Manager: Many of
us have debt in a number of different
places. There’s credit cards, store
cards, car loans and lines of credit And because each one has a different due
date, minimum payment, and interest
rate, it doesn’t take long to feel like
your debt is a little beyond your control. Plus,
you might find that while you’re always
making payments, your debt isn’t
actually going down. If you’re feeling like your level of debt isn’t
quite where you want it to be, and
you’re committed to paying it down, a
debt consolidation loan can be a great way to take back the control
you’re missing. A debt consolidation
loan allows you to combine different
debts into one loan. So instead of making multiple payments,
you’re now just making one. Does this
sound easier than what you’re doing now?
Well, it is. A consolidation loan lets you easily
manage your debt, and you’re not just
paying interest, you’re also paying down
the principal- this can put you on the path to
eliminate it altogether. How? Well to
start, with your debt being in one
place, you can easily keep track of your repayment progress and you’re
likely to reduce your overall interest
costs. Loan terms usually range from 1
to 5 years, so you can choose what works best for you. It’s
easy to customize your loan payments and
your frequency to monthly or more often,
so you can balance your ongoing cash flow needs
with your goal of becoming debt free.
It’s important to think about a
consolidation loan as a replacement for your existing debt. So if you’re
serious about paying it down, a
consolidation loan can be a great way to
regain control of your money.

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