What can you do if your credit is compromised by so many debts? One solution is to consolidate them into a single monthly payment with a personal loan. This action can help you improve your financial situation because that new monthly payment could be lower than what you currently pay in multiple payments. In addition, you save time and prevent that you forget to make the payment since you focus on making a single disbursement to cover your debts.
Remember that having many debts and not paying them on time affects your credit score. This score allows financial institutions to assess whether you pay on time and if you have the ability to request additional credit. It is necessary that you maintain a good credit history so that in the future you can seek financing for any management you need: from applying for a credit card to buying a car or a house.
Debt and consolidation: Find out more now
- Simplify your finances: Consolidated multiple debts in a single monthly payment. With a personal loan, the interest rate never changes and you know the date you will pay it off.
- You save: With a personal loan 1, you could receive a lower interest than you now have on your store credit cards.
- Take control: You decide the term of months that suits you best 2. In addition, if you apply for a loan with David Bank, and you qualify, you receive the money on the same day 3 and you can enjoy the option of 0 payments for the first 90 days 4.
In addition, if you are going to consolidate debts, it is important that you learn more about De Debt.
Improve your economic situation
Pay the consolidation loan on time to improve your credit score. Once you make a loan to consolidate, avoid incurring other debts to prevent returning to the same situation as before.
What will be my APR?
The Annual Interest Rate (APR) will be fixed for the term of the personal loan and will be determined by your credit history and parameters established by the bank.