Do you have too many repayments to look after? Are the continuous notices requesting payment stressing you out? If so, it might be worth taking out a debt consolidation loan.

With a debt consolidation loan, you no longer have several monthly repayments to make – you just have one loan with one payment each month to cover your debts. Many people find that consolidating all their debts into one easy repayment is much easier to manage. By restructuring your overall debt, you may find that you can reduce your overall interest rate.

Taking Control of Your Finances

Reduce your stress and take back control of your finances with a debt consolidation loan. Bring all your debt repayments together into one loan and you will find it easier to take back control of your finances. By rolling all your debts into one loan can help you to save time and help to reduce stress.

Lower Interest Rate

You may be able to save quite a bit of money from lower interest payments. Many people struggling to get out of debt will often have a number of different lending products – be they high interest loans, overdrafts or credit card debt. Debt repayments can sometimes be difficult to manage and spiral out of control, with different/high interest rates on some types of borrowing. With a debt consolidation loan, you may see your overall interest rate or monthly payments falling which will help you to save money over the duration of your loan or make your monthly repayments more affordable.

Improve Your Credit Score

Did you know that late repayments can negatively affect your credit score with the Irish Credit Bureau. Every late payment hurts your credit rating – which could make it difficult to take out a loan or mortgage in the future. With a debt consolidation loan, you can clear off your outstanding debts and start the process of building up your credit score again.

Less Stress To Address

Without a doubt, one key advantage of consolidating your debt into one account is the relief that it brings. Being chased for repayments from different creditors can take a toll and can be very difficult to deal with. With a debt consolidation loan from First Choice Credit Union, you can focus on the things that truly matter.

For further information please contact our lending team on 094 9022969, email us at loans@fccu.ie , apply online by clicking the button below or drop into any of our branches in Achill, Balla, Ballyhaunis and Castlebar.