Consolidated credit companies, like credit counseling agencies, usually point consumers at debt-relief options like a debt management program, debt settlement, a debt consolidation loan and, in extreme situations, bankruptcy.
With credit consolidation, you take out a new loan and use it to pay off smaller loans.
If you are juggling multiple credit card bills, you may benefit from the convenience of having one consolidated monthly payment.
Consider all of the bills that the modern household pays (mortgage/rent, utilities, cell phone, cable, internet, etc.).
Whether you’re looking to consolidate debt or you need extra funds for a major event or a big purchase, Discover personal loans offer a convenient online application and simple upfront terms that provide flexibility to applicants with fair to good credit ratings.
Disclaimer: The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. For a full list of our advertisers, see our disclosure page.Adding 5-10 monthly credit card bills can overwhelm your bill-pay. Going on vacation or having a hectic few days can result in several late payments and hundreds of dollars in fees.Nonprofit credit consolidation companies provide you with the convenience of making one monthly payment to help you become debt free.Maria Altamirano and her mother are first-generation immigrants who struggled to adapt to a new credit system and find financial stability in the U. Consolidated Credit helped them overcome challenges with debt and achieve the American Dream of homeownership. I got let go of my job after being with them for 24 years, and they were downsizing and they had to let me go. I’m just so thankful to him, to Consolidated Credit, I couldn’t do enough for you guys in return for what you gave us, and that’s how we feel. We’re going to go from here.” You gotta go each step. We were doing better because we had changed a lot of things in our budget, but we still had this albatross around our neck which was the mortgage payment that was going up, and up, and up.Before you apply, it’s helpful to take note of Discover’s main requirements for approval, which include having a minimum credit score of 675 and a minimum annual income of ,000.Complete the application online or by calling 1-866-248-1255 to complete the application over the phone with one of Discover’s loan specialists.If you’re interested in personal loans for bad credit, this loan isn’t for you; to qualify, you need fair to good credit.Before you fill out the application, visit the Discover website to enter your desired loan amount and estimated credit score range to get an estimate of the fixed APR and monthly payments you can expect without having to run a formal credit check.For a full list of our advertisers, including American Express, see our disclosure page.Consumers burdened with credit card debt may be better off consolidating their outstanding balances with a single low-interest loan.