5 Benefits of Consolidation Loans at our Credit Union - VFCU

5 Benefits of Consolidation Loans at our Credit Union

Everyone has their way of conquering their debts at their own pace. Paying them off can be a hassle if:

  • Money is scarce.
  • Your payments need to be more consistent.
  • Your loan rate changes periodically.

If you are not careful, your debt can impact your credit significantly. To avoid mishaps in terms of your loans, you may benefit from consolidating. Consolidation loans can help you regain control of your debt, loan rates, and repayment schedule. Read how.

What is Debt Consolidation?

Debt consolidation combines two or more debts into a single large debt. This is a way that borrowers can have more favorable loan terms and repay the loan with a better interest rate.   Apply for a consolidation loan online for up to 60 months for as low as 11.85% APR.

Save Money

You can save hundreds or thousands of dollars by consolidating and having a fixed-interest loan rate. Ask our loan officers to help you determine your repayment plan with VFCY and discuss your financial future.

Simplify Your Monthly Budget

Managing your due dates and accounts can be a little stressful for yourself and your budget, and if you incidentally miss your payments, your interest eventually increases. This can affect your credit score and loan amount if you are not careful. However, debt consolidation can minimize your payments to just one monthly payment, giving you less stress and more peace of mind regarding your loans and finances.

You May Pay off Your Debt Faster

Compared to other Harlingen banks or financial institutions, a credit union allows you to borrow when you need money at reasonable terms and with fewer requirements. Depending on the final terms of your consolidation loan, you can pay off your loan faster once you know the approved terms.

Potentially Lower Your Monthly Payments

If you are one of the many individuals who struggle with finances, a debt consolidation loan is the solution. Debt consolidation can make your monthly payments more affordable; in this case, applying for a long-term loan can result in much smaller payments, but the downside is that the interest may increase over time. Contacting our credit union-Harlingen branch for rate options is the best solution. Debt consolidation is an excellent option for those struggling financially.

Increase Your Credit Score

The more you pay off your debt, the more your credit will stabilize. This varies depending on every individual’s situation, but consistency is key. Fortunately, our credit union is known to work with different credit levels.

Let VFCU Help You with Your Consolidation Loans

Unlike Harlingen banks, VFCU has rates and rewards exclusive to our services. Regarding financing, VFCU has many banking opportunities you can sign up for online or with just a quick call! Apply for:

Become a VFCU Member

Need help with your finances? Check out VFCU’s consolidation loans and put your mind at ease. VFCU is dedicated to providing you with the best rates and solutions! Contact us for more information.

*Rates are subject to change without notice.

**Rates will be determined on credit approval and length of repayment.

***Certain restrictions apply. For more information, visit our main office or our Harlingen branch.

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