If you’re having a hard time keeping up with multiple payments, and the stress that goes with it, a debt consolidation loan is definitely a strategy worth considering.
With a debt consolidation loan from LoanMerica, you can pay off all of your existing debts with one convenient loan. Instead of having multiple debt payments each month, you'll only have one. It's much easier to keep track of, and can reduce the total amount of money you owe your current creditors. A debt consolidation loan makes even more sense if the interest rate of the new loan is lower than the interest rate on your current debt. We have a number of debt consolidation options for you to choose from to match your particular credit and financial situation.
Most debt consolidation loans are secured, requiring that you put up something such as equity from your home as collateral. As long as you make your payments on time, debt consolidation loans can even help you improve your credit by adding another line of credit to your credit report. Your credit score will be a factor in the interest rate of your debt consolidation loan, and consolidating your debt should not be confused with eliminating it.
If you're tired of dealing with the headache of multiple debts, give LoanMerica a call at (800) 391-9310. Your LoanMerica representative will help you tailor a debt consolidation loan that will help you bring your finances under control.