DEBT CONSOLIDATION

Debt Consolidation is the act of taking out one large, low-interest loan to pay off multiple lower-value loans.

Consolidating your debt can benefit you in a number of ways, such as taking out a higher value low-interest loan to pay off smaller debts with a higher interest rate, allowing you to either make lower monthly payments towards the new loan, or maintain your monthly payments and pay off more of the principal each month, shortening the term of the loan.

Consolidating your debt can have benefits even if you pay off multiple smaller loans with the same interest rate as a larger loan - you only have to deal with one monthly payment instead of several, which can save you  headaches at the end of the month. We can analyze your financial situation and determine where you can either take out equity or utilize lower-interest funds to pay off your high interest debt, saving you money.