Top 3 Reasons to Consolidate Debt with a Personal Loan

Having to utilize credit cards or other lines of credit on a continuous basis can take a toll on your finances. While having the option to use your credit card as you need it can be beneficial in times of need, it can be easy to fall into the cycle of carrying a balance over long periods of time, missing payments, and paying more in interest.

With a personal loan from Marine Credit Union, you can consolidate your debt and break the revolving debt cycle.

  1. Make your payments more manageable: An installment loan could consolidate all of your debt into one affordable monthly payment.
  2. Reduce your debt while giving your credit score a boost: By converting your revolving debt(line of credit) into a loan, your credit utilization ratio goes down while often increasing your credit score.
  3. Eliminate the debt cycle: We’ll design a payment plan for you over a fixed period of time, so you can pay off your debt for good.

No matter your situation, you are not alone in struggling with debt.

Loan subject to credit approval. Federally Insured by NCUA. Equal Housing Lender.