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A debt consolidation loan through Credible might help you get back on track.

Credible works with many trusted lending partners to find you the best options for easy debt consolidation. Based on your credit score, you can get matched with a loan of up to $100,000 with interest rates between 5.40% - 35.99% APR.

So why debt consolidation?

Let’s say you have a hypothetical $12,000 in debt:

  • $5,000 on a store credit card with 22% APR.
  • $2,000 on a cash-back credit card with 16% APR.
  • $4,000 for an outstanding student loan at 7.5%.
  • $1,000 in hospital bills.

You will have four payment due dates each month and four very different interest rates.

In just three years, you will have paid $2,884 in interest.

With Credible, if you had qualified for a $12,000 debt consolidation loan at 6.89% you would settle your debts and you would be left with one simple, lower monthly payment. You would only pay $1,317 in interest over three years. That’s a savings of $1,500!

If you're curious to learn more, you can check rates on Credible. Checking rates won't hurt your credit score. Credible can match you with a personalized loan offer in minutes.

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Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.