The Inside Scoop on Debt Consolidation

Debt can pile up in the blink of an eye. From student loans to unpaid medical bills, the list may seem endless. You could have thousands of dollars in debt enduring high-interest fees before you know it. To add the cherry on top, banks have made swiping, tapping, and scanning your credit card more convenient than ever.

Keeping track of your debts can feel like swimming in the ocean with no land in sight. From reviewing your statements to creating an action plan, you feel like you are sinking. Each of your loans or cards may carry a different interest rate, minimum payment, and due date. Then life gets in the way unexpectedly. Just like that, a bad mark on your credit score strikes again from another missed payment.

The Debt Problem

If this all sounds familiar, you are not alone. 8 out of 10 Americans are tied up in the chains of debt. Do you ever wonder if you’ll walk out of your door one-day without worrying about money? It’s time to take matters into your own hands. Today is the day to refuse to be a part of the 80% of Americans affected by debt.

What is Debt Consolidation?

Debt consolidation is a simple, yet powerful tool. With it, you combine all your various debts into a financial loan. Need help for bad credit? Heights Finance believes you are more than just your credit score. We offer loans to help achieve your financial goals. Loan specialists can help combine all your debt balances into a manageable payment, so you will only be responsible for a single loan.

Benefits of Debt Consolidation

Debt consolidation personal loans offer great advantages. You can lock in a lower interest rate and the cash being swept away by high interest could go straight into your wallet. Each payment is the same making budgeting easy. From monthly payments to the length of your loan, you can anticipate your expenses and timeline for when you will be debt-free.

Credit Utilization Ratio

Some consumers keep their cards and accounts open to strengthen their credit utilization ratio. This is a big determining factor in your credit score. It compares your amount of debt to how much you have available. By shifting your debt over to a personal loan, you could boost your score. A low ratio proves your credit cards aren’t maxed out and helps boost your score.

Who doesn’t want fewer bills, a higher credit score, and thousands of dollars saved? Of all the methods to get out of the red, debt consolidation is among the most effective strategies.

Get Started Today

Tired of carrying multiple debts with high-interest rates? Don’t sweat it! Getting out of the depths of debt starts with a single decision. The long-term benefits are worth it, so don’t wait any longer.

Need a loan? Here at Heights Finance, we are committed to helping you achieve your financial goals. First, it’s up to you to take control of your financial freedom. Applying for a loan to consolidate debt has never been easier. Pay off credit card debt and high interest loans, and manage your debts with one monthly payment. Find a branch today for a quick easy loan!