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Northeast Iowa

 

Central Iowa

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Please select the location closest to you & we'll personalize your experience!

Northeast Iowa

Luana Savings Bank, Luana, IA

Luana, IA

Luana Savings Bank, Ossian, IA

Ossian, IA

Luana Savings Bank, New Hampton, IA

New Hampton, IA

Central Iowa

Luana Savings Bank, Polk City, IA

Polk City, IA

Luana Savings Bank, Clive, IA

Clive, IA

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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.

Our business is finance. Don't hesitate to contact us regarding debt; we're here to help - it's what we do for a living!

What We Do:
  • Offer loans for consolidation of debt with low interest rates
  • Offer financial advice relating to Debt
  • Help improve your credit score/credit track record
What We DON'T Do:
  • Settle with creditors
  • Offer payment services to creditors
  • Negotiate lower interest rates with creditors

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!

For example: To be debt-free in two years with $3,000 debt on two credit cards at 17% APR each will generate $1,120 of interest charges, with monthly payments of $297.

The same 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.

"Local People, Local Decisions, Local Investments"
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Member FDIC   Equal Housing Lender
"Local People, Local Decisions, Local Investments"
Member FDIC Equal Housing Lender
Sitemap  ·   Privacy Notice  ·   New Customers  ·   Careers
Created & Maintained by: © Luana Savings Bank 2012-2015