If the weight of multiple debt payments is dragging you down, don’t give up. If you are struggling with debt, debt consolidation can help you. Leverage Capital is specialized in debt consolidation, so you know you are getting professional health.
Debt consolidation is when you take control of your financial situation involving your multiple debts and combine all of them into one new loan. This creates a single monthly payment among other benefits. By consolidating debt, you will be able to pay off your debt in just a few years. Remember, you still are expected to make each payment on time.
Consolidating your debt often comes with lower interest rates, allowing you to save more money by reducing your payments each month. Using consolidation helps you pay down all your debt faster.
The new loan will pay off the old debt, and give you an easier repayment plan to continue with from that time on. Usually, you will have lower payments and spread out over a set period.
Below is a small example of loans that could be consolidated.
There are many benefits of debt consolidation, here are three:
Sometimes debt sneaks up on you, and other times it grows right in front of you. Here are some ideas to help you prepare for debt consolidation.
If you find yourself in any of the following situations, you should consider debt consolidation.
There are a few things you can do to help. You need to make a list of all the debts you have and need to consolidate. Beside each debt, write the amount you are required to pay in total. Make sure you include the monthly payment and the date the payment is due. Record the interest rate you pay for each debt. By writing all this information down, you will find out the total amount you need to ask for when getting the consolidation loan, and it will make you aware of what debts are more serious than others.
You can also make a budget and stick to it. It will help you see where your money is going, and where you need it to go.
One last thing you can do is reach out for help. Ask Leverage Capital about Debt Consolidation and find out what we can do for you. Debt Consolidation can set you on the road to financial freedom, creating a future where you won’t have to worry about debt. Contact Leverage Capital today if you have any questions.