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Reducing Debt For Your Financial Future

Reducing Debt For Your Financial Future

The nights may still be chilly, but there’s no doubt: Spring is arriving. Easter will be here before we know it. Plants and flowers will soon be blooming, and folks are embracing all kinds of renewal. This is the season for fresh starts, whether that means serious spring cleaning or reducing debt and bills to build a healthy financial future. 

This season of rebirth and renewal is a perfect time to learn more about one of the best moves for reducing debt: debt consolidation loans.

If you have credit card debt, then you know how the balance can snowball. High-interest rates mean that sometimes you owe more at the end of the month than you did at the beginning, even though you’ve made your payment. It can feel unpredictable, as those interest charges stack up on top of the principal and your debt grows month after month into something that becomes insurmountable. 

According to the credit reporting company Experian, debt consolidation loans can be a better move than carrying a balance on one or more credit cards. “Consolidating debt allows you to use just one loan to pay off one or more credit card balances, which can simplify your repayment plan,” Experian explains. “And, depending on how much debt you have and the loan’s terms, it could also save you time and money.”

That’s where 1st Franklin can help. If you’re ready to start reducing debt this spring, your local 1st Franklin team is happy to help find a debt consolidation loan with a fixed monthly payment that’s right for you.

And besides saving you money, the loan may also raise your credit score: Another credit reporting company, TransUnion, found in their research that “not only does debt consolidation make paying bills more simple, but more importantly it often results in a credit score boost for some individuals.”

As this new season begins, it’s a great time for a fresh financial start. 

Start Reducing Debt Today!

The “Friendly Franklin Folks” can answer all your questions. They’re glad to sit down and review all your bills with you and help consolidate them into one fixed personal loan with a set monthly payment that will never take you by surprise. You get a clear payoff schedule, so you can see light at the end of the tunnel. Click here to find a branch near you!

It’s kind of like a breath of fresh spring air for your budget. Then all you’ll have to do is handle the spring cleaning. 😉