When you’re focused on paying off debt, high interest rates can be demoralizing.It’s deflating to watch a sizable portion of each payment go toward paying your lender rather than lowering your debt.One solution could be using a debt consolidation loan to lower your interest rate.Essentially, you use a new personal loan to pay off existing debt.Only the most creditworthy applicants qualify for the lowest rates and longest loan terms.Rate will generally be higher for longer-term loans.Most personal loans are flexible and have few, if any, restrictions on how you may use the funds.
At the moment and our products are only available in the US. If you're a current customer please call us toll-free at: 1-844-MARCUS1 (1-844-627-2871) Monday to Saturday from 7 am to 9 pm E.
Marcus by Goldman Sachs offers a fixed-rate, no fee personal loan.
At the moment and our products are only available in the US. Marcus offers unsecured personal loans from ,500 to ,000.
Still, be sure to double-check for any rules about consolidating debt with a particular lender.
For instance, some financiers don’t allow you to use personal loans to pay off student loan debt.