Consolidating debt hurt

26 Dec

A loan with a longer term may have a lower monthly payment, but it can also significantly increase how much you pay over the life of the loan.

One potential option to get organized and streamline your bills is debt consolidation.

Consolidating multiple loans means you'll have a single payment each month for that combined debt but it may not reduce or pay your debt off sooner.

By understanding how consolidating your debt benefits you, you'll be in a better position to decide if it is the right option for you.

SIMPLIFY AND DE-STRESS YOUR FINANCESDebt consolidation merges multiple debts into a single, cheaper loan while our caring team does the hard work to make sure that you stay on track to be debt-free sooner.

A debt consolidation loan can lower your total repayments by combining multiple debts into a single loan - a single interest rate and one ongoing repayment A debt consolidation loan can assist with managing debt as a lower interest, single repayment may mean you pay less each month than you were previously.