Bill Consolidation Loans
How Does Debt Consolidation Work?
Debt consolidation allows you to combine your credit card balances and any other debt into a single, easy to manage monthly payment. This is done by first taking out a Bill Consolidation Loan to pay off all the creditors you are currently making payments to. This type of loan can use the equity in vehicles such as cars, trucks, boats, ATVs, as well as any other assets or personal property you may own as collateral to secure it. Once all your creditors are paid off, you will receive one consolidated bill for the loan amount each month instead of multiple bills for your individual debts.
Should I Consolidate My Debt?
Bill consolidation loans combine all your monthly payments into one bill, which will help simplify your debt management. By consolidating all your debts you are often able to substantially reduce your monthly payment. Consolidating your bills could possibly lower your combined interest rate, saving you time and money to spend elsewhere.
Connect with us!
If you’d like to find out more about how a bill consolidation loan can help you simplify your debts and lower your monthly payments, contact Citizens Savings & Loan today for a free quote. You can also schedule an appointment to speak with a representative at one of our local offices or fill out our online application to begin consolidating your debt today!