As costs of living and debt balances rise, paying down debts is getting harder for individuals and families.
More and more people are finding themselves facing serious financial difficulties for the first time in their lives. Many have healthy income and are financially stable, but are unable to keep up with high-interest payments.
Without one lower payment, they simply couldn’t afford to pay off their debts and would remain stuck for years to come.
A debt consolidation loan is a new loan that combines unmanageable debts into a single lower monthly payment to help become debt free. However, many people who reach out to us are concerned that a consolidation loan payment would still be more than they can afford.
Every situation is unique. By finding out how much the different debt consolidation loan options available can help, people with serious debts can make an informed decision on how to move forward responsibly.