Consolidating debt loan us
For more information, check out: Rates and information current as at 14 December 2016 and subject to change.
You may be contacted by private companies that offer to help you apply for a Direct Consolidation Loan, for a fee. There’s no need to pay anyone for assistance in getting a Direct Consolidation Loan. The fixed rate is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of one percent.
The loans that were consolidated are paid off and no longer exist.
If you feel like you just can’t pay off your debts on your own, you may be considering an option that has provided relief for hundreds of thousands of other Americans: a debt consolidation loan, also known as a refinancing loan.
These loans can be a big help to borrowers who owe significant money – but they do come with risks.
It’s important to understand the drawbacks and consider all your alternatives before deciding if a debt consolidation loan is right for you.