Obtaining a personal loan through Fastrack Lending can help you take control of your finances. There are multiple ways this is possible:
Credit Card Consolidation Loans: This loan essentially refinances high, compounding-interest credit cards into one single payment – often at a lower, fixed-interest rate.
Debt Consolidation Loans: Similar to a credit card consolidation loan, this loan consolidates multiple unsecured debts into a single affordable fixed-rate loan. One easy monthly payment, and potential savings in lower interest rates.
Home Improvement Loans: This loan can get you the funds you need to do that home improvement project that’s been put off for too long. No need to borrow against the equity of your home either.
Installment Loans: These loans can help pay for unexpected expenses or major purchases. Expensive car repair and not enough savings? A wedding? Maybe even a long-overdue vacation?… This loan can cover it, without going deep into credit card debt.
What is Debt Consolidation?
In its simplest form, debt consolidation is a strategy to manage high and/or unmanageable debt by refinancing multiple debts into one single loan payment. Typically these debts include credit cards, medical bills, or unsecured personal loans. The advantages of debt consolidation is usually the simplicity of rolling all outstanding unsecured debt into one easy payment, and also potentially lower interest rates.
Debt consolidation is one way to manage debt. Whether it’s the right choice for you depends on your own personal financial circumstance and the type of debt consolidation you’re considering.
If you have a high amount of unsecured debt spread across many accounts, whether that be credit cards, medical bills, or other unsecured loans, debt consolidation could potentially be a good choice for you to combine all of your debts into one easy payment. Depending on the interest rates on your various debts, it could also provide lower payments in the form of interest.
Debt Consolidation Considerations
Give thought to the following when contemplating a debt consolidation loan:
- Will you be just consolidating current unsecured debt? If so, how much?
- Will you be consolidating debt as well as obtaining a loan for another purpose?
- Debt consolidation loans typically can extend the amount of time to pay off debt, but if the amount is too high, you could end up paying more every month, and pay more in total interest charges.
Debt consolidation can be a good choice if:
- You have good credit and can get a good rate
- You can afford the monthly payments
If you qualify for and move forward with a debt consolidation loan, understand that it is still a loan that needs to be repaid.
Your Life. Your Loan.
Your Loan Consultant will provide a free, no-obligation consultation focused on your specific financial needs and goals.
They’ll walk you through the quick application process, and you simply submit the form once it’s complete.
You’ll be informed once loan offers are available. Simply select which option best suits you.
Personal Loans Rate and Terms Disclosure: All loan requests are funded by third-party lenders. Fastrack Lending, LLC (“Fastrack Lending”) does not endorse any lender or loan broker, and does not charge consumers for the services provided by its platform. Rates for personal loans provided by lenders on the Fastrack Lending platform range between 5.99%-35.99% APR with terms from 36 to 60 months. Actual rates, terms, and loan amounts may vary based on the lender’s eligibility criteria, which may include factors such as credit score, loan amount, loan term, credit usage, and history, and vary based on the loan purpose. Not all who apply will qualify for the lowest interest rate or the maximum loan amount. The lowest rates available typically require excellent credit, and for some lenders, they may be reserved for specific loan purposes and/or shorter loan terms. Fastrack Lending does not control any lender’s creditworthiness or eligibility criteria. All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. Rates and terms are subject to change at any time without notice. To qualify, a borrower must be a U.S. citizen or permanent U.S. resident in the following states: Alabama, Alaska, Arizona, California, Delaware, Florida, Idaho, Indiana, Michigan, Mississippi, Missouri, Nebraska, New Mexico, New York, North Carolina, Oklahoma, South Dakota, Texas, Virginia, Wisconsin, and Wyoming. Borrowers must be at least 18 years of age (in Nebraska and Alabama a borrower must be at least 19 years of age). Lenders may request verification of income or employment, or perform a credit check in order to evaluate your eligibility. To check the rates and terms you qualify for, third-party lenders conduct a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, a full credit report will be requested from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit. For details, questions, or concerns in connection with your loan request or the potential impact of a loan application on your credit score, please contact your lender directly. Neither this service nor the lenders participating on the Fastrack Lending platform are available in all states. This service does not constitute an offer for loan products if such are prohibited by any state law. Void where prohibited.