What is a Debt Consolidation Loan?

A debt consolidation loan is perfect if you’re feeling dragged down by many different bills, scattered through the entire month from many different sources. This will combine all your various payments into one single monthly payment, simplifying your finances, and more importantly, your life

Why consolidate your debt

Make your life easier: combine your debts into a single loan!

Simplify Finances

Simplify your finances

Merge all your different payments into one single payment

Pay Debts

Pay off other debts

Get rid of your higher interest debts, we pay them off directly

Secure

Secure your future

Your monthly payment will always remain the same

This DOES NOT affect your credit score

Finjoy Debt Consolidation vs. Credit Cards

Credit cards can be helpful, but they can also cause problems if you don’t pay your balance on time. See some examples:

 Credit CardDebt Consolidation
Interest rateOften variable, it can increaseLocked in. It will not go up
Monthly paymentCan fluctuate and go upFixed. It will not go up
Paying off the debtMaking minimum payments means it will take longer to repay your debt. In some cases, many years longer than a personal loan.You know upfront when your debt will be paid off
Effect on your creditHigh credit card balance increases credit utilization ratio – the percentage of your credit you're using. This can damage your credit.If used to bring down the credit utilization ratio on your credit cards, it can improve your credit

Did you know that a debt consolidation can make it easier to qualify for a mortgage?

 Credit CardDebt Consolidation
Interest rateOften variable, it can increaseLocked in. It will not go up
Monthly paymentCan fluctuate and go upFixed. It will not go up
Paying off the debtMaking minimum payments means it will take longer to repay your debt. In some cases, many years longer than a personal loan.You know upfront when your debt will be paid off
Effect on your creditHigh credit card balance increases credit utilization ratio – the percentage of your credit you're using. This can damage your credit.If used to bring down the credit utilization ratio on your credit cards, it can improve your credit

Did you know that a debt consolidation can make it easier to qualify for a mortgage?

How it works

The process is simple and it takes only a few minutes to complete

Receive Funds

Choose your loan amount

Check Your Rate

Apply online in minutes

Get Approved Yellow

Get approved

Receive Funds

Receive your money

Consolidate your debts now!

This DOES NOT affect your credit score.

Have a question?