A debt consolidation loan is a personal loan that is used to consolidate or combine your debts to help you pay them off faster. There are quite a few benefits to finding the right debt consolidation loan for your personal finance goals. Don’t let high debt drain your mind and spirit any longer – start looking for a debt consolidation loan today! Lendah’s team of knowledgeable representatives can help you along the way as you look for the best loans for credit card debt or the best unsecured loans!
Not sure how to get started? Here are the steps you should take.
1. Check your credit score
The first step in applying for a debt consolidation loan is to check your credit score. Depending on your score, you could be disqualified from applying for certain loans. Don’t waste valuable time applying for loans that you do not qualify for. Know your credit score and which loans will accept that score so that you have a better chance of approval and lower interest rates.
2. Make a list of your debts and your budget
Next, ask yourself what you need to consolidate. Do you have multiple credit cards with high interest rates? Add up the minimum payments you are required to pay each month and make sure you take that high interest rate into account. The goal is to find a debt consolidation loan that has your budget in mind. This will make it easier to make one manageable payment each month until you are debt-free! A good understanding of your budget and your credit card debt will help you choose the best debt consolidation loan option.
3.Apply for the best option
After checking your credit score and figuring out which debts need to be consolidated, it’s time to find the perfect debt consolidation loan for you. This might sound easy but with so many debt consolidation loan options available, it can become an overwhelming process. You really need a specialist by your side every step of the way when you’re choosing a debt consolidation loan option. Our expert loan professionals can help you.
Related: How To Get A Loan With Bad Credit
Let Lendah Help You Find the Best Option!
If you’re looking for a long-term fix that will save you money, it’s time to apply for a debt consolidation loan. Lendah has a network of over 30 lenders – we’ll help you find the best option for your financial needs. You decide the terms on a consolidation loan, so you can pay off your debt at a rate that your monthly income can handle. Overall, the average interest rate for a personal loan is lower than the rates from credit card companies. Once approved for a loan, you’ll save time and money as you manage one payment each month – a payment that you can afford.
Let the specialists at Lendah find a customized consolidation loan option for you. It only takes one application to find your best options.
If you have questions about debt consolidation loans, speak to our team of knowledgeable professionals. Our compassionate loan matchmakers will find the best terms tailored to your unique situation with fast approval and rates starting as low as 3.84% for amounts up to $100,000.
Get started today on our website. Prefer to talk in person? Call us at 833-453-6324 and we’ll get you connected immediately with one of our loan experts.