Drowning in debts and finding it hard to keep up with your monthly payments? If yes, then you are not alone. Today, a large number of people in the country are struggling to pay off their debts on time. If you are one of them, then it’s time that you get rid of your debts in a systematic way.
A debt consolidation loan from 1st Franklin Financial Corporation can help you make your debts more manageable. It is important that you pay down some of your high interest debts before they start haunting you in your sleep.
1st Franklin Financial offers debt consolidation loans that can help you consolidate your multiple high interest credit cards or other individual loans into one loan term having a single monthly repayment.
Debt consolidation is simply combining all your existing loans and credit card debts into one single loan having betters interest rates and repayment terms.
You may be overwhelmed by the varying interest rates and payments dates of your multiple individual loans or credit cards. With a consolidation loan, you don’t have to worry anymore as you will have a fixed interest rate and repayment term that will allow you to systematically repay your debt.
Knowing in advance how much to pay and when to pay make it easier for you to make your monthly payment in a timely manner.
Features and Benefits
Debt consolidation loans come with a number of benefits that will allow you to finally save some hard earned cash.
First of all, a consolidation loan takes your credit cards and other debts and combines them with the help of a single loan solution. This will allow you to pay down your debts with a more manageable fixed monthly payment.
Some of the benefits of a personal debt consolidation loan from 1st Franklin Financial includes:
- Make only one monthly payment that suits your budget
- Reduce your debts by paying down the principal amount and not just the interest
- It helps you to save money and better manage your budget
- Shrink your debt fasten than paying several individual accounts.
At 1st Franklin Financial, all loans are subject to credit approval and their requirements.
It is important for you to find out whether the interest rate of the new consolidation loan is lower than the combined interest payments that you make on your existing loans or debts each month.
If you are not so sure about debt consolidation, you can contact the people of the bank to discuss how consolidating your debts can help you. You may also read debt consolidation loan review of existing customers of the bank to learn about their personal experience.