Ever try to wrangle a bunch of cats into one area? For those who haven’t, it’s nearly impossible and incredibly frustrating – one cat runs this way, while another scrambles up a tree and yet another scurries behind the sofa. Having multiple debts to pay off can sometimes feel like that. The due dates are hard to keep track of, interest rates vary, you don’t know how much to pay for which line of credit, and even when you think you’re staying on top of it – oh no, you forgot one! Now there’s a pesky late penalty attached, adding another cat to your rodeo. That overwhelmed and frustrated feeling is common when you find yourself with more debt than you can comfortably manage. It may seem easiest to throw your hands up and just accept the frustration, but there is a light at the end of that dark debt tunnel. The answer may be loan consolidation. Simply put, consolidating loans and credit card bills means that you take out a new loan to pay the remaining balance on all your other debt, leaving you with one simple monthly payment with a fixed interest rate and a clear payoff date. You’ll be able to make real progress because the balance will consistently go down each month—there’s no possibility of charging it back up like with credit cards. While debt consolidation may not be for everyone, the benefits of consolidating debt are numerous:

1. Lower monthly payments: with a debt consliidation loan like one from LendingPoint, you can choose terms that will actually lower your total monthly debt payment and comfortably fit your current financial situation.
2. Fixed interest rate: get rid of those variable interest rates by locking in a fixed rate for the duration of your loan. Variable interest rates can be hard to keep track of and depending on how high they go, you may end up paying more towards interest than principle, which works against your efforts to pay down your debt.
3. Save money: consliidating debt – especially credit card debt – with an installment loan can often mean a savings on the interest you pay, and it increases monthly cash flow by lowering your overall debt payment.
4. Less stress and higher quality of life: when you’re not juggling moltiple payments, when you know where your money is going and can see the debt consistently decreasing, your stress level will decrease along with it. You’ll feel more on top of your financial situation, actually putting a dent in the amount you owe, without feeling like it’s drowning you – or like you’re herding cats.

• If you have multiple debts with higher than average interest rates, a personal loan or debt consolidation loan with a fixed lower interest rate may be a smart option for you
• If you’re getting behind on payments because a large payment for one is making it harder to pay the others
• If you have multiple loans for the same thing, like student loans or medical bills
• When you have multiple due dates, variables, and payment options

Untangling yourself out of debt can be confusing and hard, and figuring out how you can afford to pay it off can be even harder. Having the right partner in your corner is important. Don’t let another day of frustration go by – heard those credit card cats with a LendingPoint loan.