Debt consolidating loan

Posted by / 23-Nov-2020 23:37

Debt consolidating loan

To learn which accounts qualify for the discount, please consult with a Wells Fargo banker or consult our FAQs.

If automatic payments are canceled for any reason at any time after account opening, the interest rate and the corresponding monthly payment may increase.

The payment reduction may come from a lower interest rate, a longer loan term, or a combination of both.

By extending the loan term you may pay more in interest over the life of the loan.

Consolidating your debt with a personal loan could also have the advantage of a fixed rate. That said, debt consolidation doesn’t eliminate your debt. The goal is to make your debt easier to manage and to, potentially, lower your total interest payments.

Your rate is fixed with a Marcus personal loan, so you’ll know exactly how much you owe each month and when your loan will be paid off. Getting out of debt is a multi-step process that could include making changes to how you spend and save.

A debt consolidation loan is used to combine multiple debts into a single debt.

Consolidating multiple debts means you’ll have a single monthly payment, but it may not reduce or pay your debt off sooner.

This example is an estimate only and assumes all payments are made on time.

To qualify for a customer relationship discount, you must have a qualifying Wells Fargo consumer checking account and make automatic payments from a Wells Fargo deposit account.

Tackling each debt separately can be difficult, and more expensive than other options. This type of personal loan allows you to pay off your existing debts, and roll them into one new, easy to manage loan.

Some debt consolidation loans have fixed interest rates and monthly payments.

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Loans through Avant give you the flexibility to pay off your debt with simple monthly payments over the course of 24 to 60 months** We give you the flexibility to personalize your loan and choose the best option for your needs.

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