FFCU Consolidation Loan

What is a Debt Consolidation Loan?

Debt consolidation is a type of debt restructuring in which you take out a new loan to pay off your current loans. Instead of multiple payments with different creditors, you will only have one monthly payment to make. Now you can take better control over your credit card bills and pay off your debt effectively.

Are multiple payments to numerous creditors making your life difficult?

If so, we are confident you've come to the right place. One of our most common requests is for assistance with a debt consolidation loan. Here at Fremont Federal Credit Union, we recognize how frustrating it can be to locate the debt consolidation loan that is most appropriate for your situation. Our goal is to help simplify the process by bringing together the best debt consolidation options all in one place - at Fremont Federal Credit Union we make it easy to consolidate Whether you are seeking a debt consolidation loan to lower your payment, have one payment, or simply get a better rate, we have you covered. Whatever your loan needs, we can help.

If you're faced with making multiple payments to multiple creditors, chances are you are finding it harder and harder to put money into savings or even to afford simple daily expenses. Are you struggling to make your minimum payments each month? Are you looking for a way to make only one payment to a company each month, as opposed to struggling to keep up with several different bills? If you are a small business owner, have your creditors lowered your credit limits, reducing your ability to grow or fund your company? Have they raised the interest rates on your business credit cards?

Whether you need the money for personal or business use, there is a better way for you to manage your debts and take back control of your finances. A debt consolidation loan from FFCU can help you to pay off your existing debt and improve your cash flow.

When you have numerous loans, making multiple monthly payments can be a hassle. A consolidation loan conveniently combines all of your loans into one, leaving you with one payment and one loan, at one lender.

• How Do I Consolidate My Debt?

  If you have multiple debts that have become difficult to keep track of, there are a few different ways to consolidate them into a predictable and manageable monthly payment.

  • Home Equity Loan
    Also known as taking out a second mortgage, a home equity loan can provide lower interest rates and a way to get a handle on your credit card debt.

  • Credit Card Balance Transfer
    Transferring debt to a credit card with a lower interest rate can help if you have a plan for paying off your debt within a reasonable time period. 

  • Debt Consolidation Loan
    If you have decent credit and good collateral (security for the loan), a debt consolidation loan will help you pay off higher interest debts and focus on a single monthly payment. 

  • What are the Benefits?

    • Planning out your finances becomes easier because you only have to make one debt repayment a month.

    • You’ll get your debt under control before bankruptcy is the only option.

    • You’ll pay off your debt faster by lowering your monthly interest rate and improving your credit over time.

    • High-interest debt will be eliminated faster, which means you’ll save money in the long run.
      
       

• Is Debt Consolidation the Right Solution for Me?

  Deciding to take out a debt consolidation loan can be a difficult decision so let us help you with any concerns you may have. Call us at 419-334-4434 to discuss how debt consolidation can reduce your loan payments, compare other options for debt relief, and ultimately resolve your financial challenges.
   

• How Do I Apply for a Debt Consolidation Loan? 

• Easy!! Apply for a debt consolidation loan with FFCU by calling and setting up an appointment with one of our Financial Service  Representatives or click the Apply Now button below to get the application process started, today!