Bill Consolidation Loans
If you have credit card and personal loan balances, a bill consolidation loan may allow you to combine all of your debts into a single convenient loan with a lower monthly payment. This unique debt relief solution can help you pay off high-interest credit cards and you may even be eligible to receive extra cash in addition to the amount you need to pay off your other bills.
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.
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!