Debt Consolidation is the process of taking out a new loan to pay off one or more unsecured loans you already have. Debt Consolidation lets you bundle your existing loans into a single monthly payment, may offer you a lower interest rate, or let you pay off your debt with a alternative method or length that may be more convenient for you.
If you have multiple unsecured loans that you would like to swap for a single monthly payment or if your current loan’s interest rate is too high, you may benefit from taking out a Debt Consolidation Personal Loan with RocketLoans. Debt consolidation gives you the opportunity to potentially save hundreds of dollars with a lower interest rate and can make payments more convenient for you-- with a single, automated monthly payment.
Once you fill out your application, you’ll be given a list of loan amounts, interest rates, and terms you qualify for. After personalizing your loan and choosing an amount that covers the unsecured debt you want to consolidate, we’ll show you a schedule of what your monthly payments will look like on your Dashboard, to make sure you’re completely happy with your new loan payments (note: the "My Dashboard" link is conveniently located in the upper right-hand corner of your screen). Once you’re happy with your loan and what your payment schedule will look like, we’ll ask you a few questions to safely and securely verify your income and identity. Once we verify your personal information, we’ll let you choose from two options to receive your money. After your money is in your account (this can take anywhere from 1-3 days, depending on the deposit method you chose), you can use it to pay off the other loans you have, and enjoy your new, single monthly payment and amazing customer service with RocketLoans.