Our business is finance. We're here to help with your debt consolidation.
Whether you have college loans, equipment loans, credit card or other debt, we're committed to helping you find a better, more cost-effective solution to becoming debt-free.
How does debt consolidation work?
Debt Consolidation is the process of taking out a single loan to pay off existing creditors. Depending on the type and interest rates of the debt, consolidation can often times save hundreds if not thousands of dollars!
Example Scenario: To be debt-free in two years with $3,000 debt on two credit cards each ($6,000 total debt) at 17% APR each will generate $1,120 of interest charges, with monthly payments of $297.
The same $6,000 debt, consolidated in a 2-year loan and financed at 8.0% APR, will have $607 less interest at a payment of $272 per month. Or, maintaining the same payment of $297, the loan would be paid off 2 months early AND save another $45!
Debt and your credit score
In addition, consolidating debt can help improve your credit score/track record by simplifying the payment process - fewer due dates, fewer creditors, fewer chances of missing payments - especially when enrolled in our automatic payment system.
Debt Consolidation is the preferred method to becoming debt-free, and is the only method that doesn't potentially add harmful information to your credit report. Settling your debt (paying less than you actually owe) may create a negative mark in your credit report. Working with a debt management program may also appear in your credit report, which some lenders may use when determining to extend you new credit.
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Credit Card Payoff Calculator
Calculator is provided as-is solely to estimate potential rates, fees, and costs. Calculator is made available as a self-help tool and examples are hypothetical. Calculator is not intended to provide investment or tax advice.