Refinance My Debt

Have you ever thought “I need to refinance my debt”?  Debt consolidation loans are attractive for those with multiple debts, especially with varying interest rates. Debt consolidation loans have one fixed interest rate that’s often lower than those of revolving credit debts. This sort of financing also offers lower monthly repayments, which could free up room in your budget for what’s important– emergency funds, home repairs, or even larger debt repayments.

Don’t let the word loan scare you. Yes, it’s a personal loan, but it won’t make more debt. You’ll likely pay less on your debt because of the lower interest rate. It’s worth comparing how much you’ll pay on a consolidation loan versus without one in the end in terms of interest. Most probably, you’ll find that you’ll pay less interest on a consolidation loan.

Why is there less interest?

Consolidation loans are a type of personal loan made to ball all your debt into one affordable payment. Personal loans have lower interest rates than revolving credit (credit cards) because they have fixed monthly payments, unlike revolving credit. Revolving credit facilities have no idea what you’ll spend and when you’ll pay it back, which is why they charge more interest. You’re bound to save money in the long run.

Get peace of mind

A consolidation loan can save you anxiety even if your credit score gets in the way of a better interest rate. One monthly payment instead of many debit orders is easier to budget for and almost impossible to forget. No more forgetting about debt payments, no more lying awake at night, and no more dreams about running out of money.

Be kind to your mind and your money with a consolidation loan. Contact Debt Refinance today to chat about how debt consolidation could transform your financial well-being.