Debt Consolidation Loans
Lessen stress and save money.
Through a debt consolidation loan, you can lessen stress and save money by combining all your high-interest loans and debts into a single lower-interest payment. A debt consolidation loan can help you better manage your debt.
Why Consider Debt Consolidation?
Sometimes it's not just how much you owe, but how many creditors you need to pay. Consolidate loans with steep interest fees such as credit cards, student loans and other high-interest loans for one low monthly payment. This could help you:
Consolidating multiple payments can make debt easier to manage
With a reduced rate, you may save significantly on monthly interest and pay off your balance faster
As you pay down your debt, your increased capacity will improve your credit score
What Are Some Options for Debt Consolidation?
Transfer your higher-interest balances to a lower-rate credit card! A balance transfer can allow you to effectively pay down your balance without having to worry as much about interest.
Learn MoreTap into your home’s equity for access to a loan that can be used flexibly to pay off debts. A home equity loan or home equity line of credit (HELOC) utilizes your home’s equity and low rates to simplify managing your debt as a single, lower payment.
Learn MoreThese low-rate loans can be used for almost anything, including high-rate credit card balances, student loans or other debts, allowing a fixed payment for simple budgeting.
Learn MoreRefinancing an existing loan with another lender replaces your old loan with an FCU loan at a different rate or term that could save you money over time.
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Debt Consolidation Calculators
To decide if debt consolidation would help you, calculate your current balance and interest on your existing credit cards and loan payments. You can use our calculators to figure this out. You will need to calculate your current interest rate and balance over the repayment period, then do the same with the debt consolidation information. The option that gets you to a lower interest and repayment total is likely your best choice.
DISCLOSURE
Subject to credit approval
The calculators found on this page are for information purposes only. While the results of the calculators may be generally accurate, the results do not reflect any specific credit union accounts, loans or other products or services and may not exactly match the calculation methods used by the credit union (or any third party) for accounts, loans or other products or services. These calculators should be used only for general informational purposes and should not be relied on for any specific transaction.