Are you struggling to stay afloat and having trouble meeting all of the payments every month? Ratelock is here to help! You can use our home equity loans to pay off those debts and have just one monthly payment!
A debt consolidation loan works by combining all of your smaller debts into one larger loan with better terms and less interest. Getting out of debt can be hard and this type of loan works by lowering interest charges and allowing you to pay more on the principal balance. Only paying the minimum amount on credit cards or other loans means you are paying more on interest than the principal and that translates into more payments and more time spent getting out of debt.
It can be too easy to get trapped by multiple credit cards or multiple small loans. Each of these balances collect interest separately, not to mention the minimum payments on each can be hard to meet when you are paying on multiple balances. Many credit cards also have interst rates that can exceed 100% annually! You can use our home equity loans to get out from under the weight of these debts and have just one monthly payment. This saves on both interest and time and makes getting out of debt easier.
Ratelock wants to help each customer as much as we can, and that is why we work with our customers to provide for their exact needs. Fill out our online form today or contact us to allow us to answer all of your questions and walk you through every step of the process!