I think one of the most frustrating parts of having several debts is remembering who needs to be paid, how much is due and when each payment has to go out. Even if you keep a close eye on your finances, having different repayment dates and interest rates can make budgeting more complicated than it needs to be.
For anyone dealing with this, it may be worth looking into a debt consolidation loan. BCU Financial offers this type of borrowing, which can allow eligible debts to be combined into one loan with a single monthly payment. Its variable rates start at 8.59%, although the rate you receive will depend on your application and the loan terms.
The potential benefit is having a more organised repayment plan, and you might also reduce interest costs if the new rate is more favourable than the rates on your current debts. It is still important to compare the full repayment cost before committing, since the details make a difference.
Here is the page with the loan information: www.bcufinancial.com/personal/borrowing/loans-and-lines-of-credit/debt-consolidation-loan/
There are answers to common questions on the page too, which should help if you are still figuring out how consolidation works. If you want to get your outstanding balances under one repayment plan, BCU Financial is worth checking out before deciding which option suits your budget.
For anyone dealing with this, it may be worth looking into a debt consolidation loan. BCU Financial offers this type of borrowing, which can allow eligible debts to be combined into one loan with a single monthly payment. Its variable rates start at 8.59%, although the rate you receive will depend on your application and the loan terms.
The potential benefit is having a more organised repayment plan, and you might also reduce interest costs if the new rate is more favourable than the rates on your current debts. It is still important to compare the full repayment cost before committing, since the details make a difference.
Here is the page with the loan information: www.bcufinancial.com/personal/borrowing/loans-and-lines-of-credit/debt-consolidation-loan/
There are answers to common questions on the page too, which should help if you are still figuring out how consolidation works. If you want to get your outstanding balances under one repayment plan, BCU Financial is worth checking out before deciding which option suits your budget.