Debt. Everyone has it, but not everyone manages it well. While a healthy amount of debt proves beneficial, too much can lower your credit rating, increase everyday expenses, and cause overwhelming stress. Many Americans have endured the consequences of high debt as they avoid paying specific bills and rely on credit cards to tide them over during these uncertain times. Fortunately, there are companies like Cornhusker Advisors available to assist.
What Is Cornhusker Advisors?
Cornhusker Advisors is a team of financial experts that offer debt relief services to those in need. Their goal is to help Americans achieve financial independence through education, professional advice, and debt consolidation loans. The company’s services have helped several people climb out of debt faster, save money, improve their credit scores, and find peace of mind.
What Is A Debt Consolidation Loan?
As the name implies, debt consolidation loans are funds provided by a financial institution for the sole purpose of paying off debt. There are general debt consolidation loans for unsecured debts like credit cards, short-term advances, medical bills, auto loans, and other debt forms.
How Does a Debt Consolidation Loan Work?
The idea of a debt consolidation loan is to consolidate your unsecured debt into one. The loan covers all or a portion of your outstanding balances, and you repay the loan in installments.
What Are the Advantages?
There are many reasons consumers choose to work with companies like Cornhusker Advisors to get their debt under control. Here’s a closer look at how a debt consolidation loan can benefit you in the short and long-term.
- One Monthly Payment – When you have several credit card bills due throughout the month, it can be easy to miss a due date. Depending on how frequently you get paid, you may not even have the available cash to pay the bill. A debt consolidation loan eliminates those other due dates, leaving you with one monthly payment. One payment is a lot easier to fit in the budget and your pay schedule.
- Lower Interest Rate – For consumers dealing with credit cards and loans with high-interest rates, the costs can get out of hand. The minimum monthly payment often isn’t enough to reduce the principal amount due. Essentially, you end up paying interest for years without seeing an actual debt reduction. If you can get approved for a debt consolidation loan with a lower interest rate, you save money and pay the balance down faster.
- Credit Improvement – Late payments and high balances can ruin your credit history. As you know, a low credit rating can make it difficult for you to do anything. With a debt consolidation loan, consumers can breathe a sigh of relief. The credit card balances are paid off, which helps to improve your score over time. Also, as you repay your debt consolidation loan, the new financial habits are recorded, which boosts your score. Once the loan is repaid in full, you’ll be in a better position to apply for credit in the future.
- Peace of Mind – Dealing with overwhelming debt isn’t easy. It takes a toll on you physically, financially, and emotionally. Customers that have worked with Cornhusker Advisors don’t have that problem. Once the debt consolidation loan is applied, it feels like a weight was lifted. No more collection calls, no more trying to manage multiple accounts, their credit history improves, they save money, and they’re able to tackle debt faster.
Millions of Americans struggled with debt long before the pandemic. Now working with smaller incomes and fewer financial resources, many have gotten in over their heads. With no choice but to skip bills and rely on credit for necessary purchases, lots of people have fallen behind with no idea how they’ll recover. Fortunately, there are companies like Cornhusker Advisors on the scene offering debt consolidation loans and financial advice. They have helped lots of customers understand their options, make informed decisions, and develop a plan that will put that back on track through the pandemic and beyond.