Credit Counseling Before taking out a debt consolidation loan, you should also sign up with a certified credit counselor.A credit counselor can help you create a realistic budget and understand the reasons for your overspending.You don't want to take out a debt consolidation loan only to run up more debt in the future.
Then, instead of making several payments to multiple creditors each month, you make one payment every month until you pay down your loan.
Debt consolidation loans are the right option for many consumers who are overwhelmed by their debt.
But there are some potential pitfalls to taking out such loans.
If you are looking to free up some of your monthly outgoings Lisduggan District Credit Union might be able to help.
Give us the details of your current outstanding loans, credit cards or other forms of credit and we will provide you with a new monthly repayment amount.
Consolidating your loans may free up some of your regular income now.Please note that when giving the details of a credit card, please provide the minimum monthly repayment amount.You can download the form from here Print the form, complete it and return it to the credit union and we will contact you with a quote. Do you struggle to make the minimum monthly payments on your credit cards?Are you worried that you'll never be able to pay back all the debt that you owe?You might be a candidate for a debt consolidation loan.