Personal Loan Consolidation | Pros and Cons

What is the term “Personal Loan Consolidation”?

Consolidating debt is the act of combining several debts, such as credit cards and high-interest loans, and other debts into one monthly installment. Personal loan consolidation options can lower the interest rate on your loan, help you save money on interest, decrease your monthly payment, and help you pay off debt more quickly.

Debt consolidation and consolidation services provided by ConsolidationNow

If you’re looking to cut the amount of your monthly payment or get the debt paid off faster, ConsolidationNow offers a range of debt consolidation plans which meet your financial goals.

Balance Transfer

Up to the amount of your credit line. 

Take high-interest debt off of credit card stores, loans, credit cards, and more, and save money with a promotional APR.

Personal Loan

You can cut costs by locking in a fixed interest rate by obtaining the consolidation loan. There is no collateral requirement, and there are no origination charges.

Home Loan

Consolidate your debts and get the cash you need by taking a mortgage loan for your home or refinance a mortgage without money required at closing and with low fixed rates.

Student Consolidation Loans

Select either a fixed or variable interest rate with no charges. Flexible terms may lower your total monthly student loan payments each month.

The advantages of consolidating debt

Find the examples below of ways that debt consolidation may assist you in gaining control over your budget.

Could be able to help you save money on interest

Perhaps secure an interest rate that is lower by the consolidation loan.

You can get a promotional APR at a lower rate for your credit card when you make an account transfer

Consolidate your monthly bills

Reduce and simplify your financial burden

Consolidate your debts and make fewer payments every month

Eliminate debt faster

Make less money available for interest

You can pay off your principal earlier

Repay the debt over time

Select the loan term you prefer or balance transfer promotional time

Set up a monthly plan of payment that is a good fit for your needs

This is How The System Works: Personal Loan Consolidation

Determine which debts to settle

Consolidate credit card stores, store cards, medical bills, gas cards, and many more. Additionally, you can combine federal and private student loans.

Examine Your loan and the balance transfer offer

Find debt consolidation options and choose the one that is right for you.

Pay off your credit card

We’ll help you decide on the monthly amount you’re at ease with when you pay down your debt.

Consolidation loan and balance transfer which one is the best option for your needs?

Debt consolidation isn’t one-size is perfect for all. This is why we provide options to aid you in consolidating the debt you owe in a manner that’s right for you.

Consolidation Loans

A consolidation loan lets you choose the amount you require and the repayment period suitable for your needs. 

You can take out up to $35,000 through the ConsolidationNow personal loan or up to $35,000 or $200,000 using ConsolidationNow Home Loan. ConsolidationNow home loan

With the ConsolidationNow Loan for Consolidation of Student Loans, it is possible to combine private and federal student loans into a single loan.

If you’re approved, you’ll be able to pay off the debt consolidated by making monthly installments according to the repayment period of your loan.

Balance Transfers

The Balance transfer is a service that is provided through a credit card. Utilizing your available credit to transfer balances, a balance transfer can help you pay off any other credit card or loan. The debts are combined in addition to the credit card balance.

If you make the credit card balance transfer, you will receive the lowest promotional price for a specified time. Based on the deal, the customer may be charged an additional fee for the transfer.

Find answers to all your questions on consolidating debt

Can debt consolidation help me pay down debt faster?

Consolidating debt can assist you in reducing the amount you pay each month or lower your interest rate in certain circumstances. You have to pay, but it depends on your financial situation and your capacity to pay the monthly installments.

What type of debts could I combine?

When you opt for a loan or Balance transfer, you can combine credit cards such as store cards, gas cards, high-interest loans, medical expenses, and others. In addition, you can condense your loan(s) by refinancing your private and federal student loans into only one monthly installment.

How can you consolidate credit debt?

It is possible to consolidate the burden of your credit card debt in two ways. Transfer your existing credit card balances to one credit card through the balance transfer option or take out a debt consolidation loan to eliminate your debts.

What can I consolidate using private consolidation loans for students?

Subject to credit approval, you may combine up to the total amount of the education loan. There are limits on the amount you can consolidate. The minimum amount for consolidation loans is 1000.

If I consolidate my debts, can I pay them directly to my creditor?

In most situations, when you take out the debt consolidation loan, we can directly transfer funds to your creditors, or you can get an e-check to pay the debt yourself. If you take out a loan for student consolidation, we’ll transfer money directly to your lenders. A balance transfer will transfer funds to a variety of credit and loan companies.

What type of interest rates am I able to get by transferring my balance?

Balance transfer offers have the benefit of a low promotional or introductory rate. Rates could be as minimal as 0% subject to the offers which are offered to you.