Do you have multiple credit cards with varying interest rates? Many people find themselves in this situation, where they struggle to juggle multiple lines of credit while figuring out which one to pay off first.
Consolidating your debt into one loan can help make your payments and budgeting more manageable. The best time to do so is when interest rates are low. This allows you to save money by moving your debt to a lower interest loan.
For example, if you owe $5,000 in credit card debt at a 19% interest rate, and you qualify for a personal loan at 12%, you could save $350 per year on interest alone when you consolidate your debt.
Take advantage of our Debt Consolidation Loan Promotion, going on until May 31st, and take back control of your debt. To find out more about this promotion, stop by Common Trust Federal Credit Union today or call us at 781-933-2600.