Get in control of your debt and simplify your finances with Debt Consolidation.
A consolidated loan from Vision Bank gives you the freedom of only having one monthly payment instead of juggling multiple bills with different due dates. Other benefits include:
- Save on Interest
- Eliminate Debt Faster
- Fewer Payments Each Month
- Create a Plan that Works for You
At Vision Bank, we offer both Secured and Unsecured Debt Consolidation Loans.
Secured Loan
- Tied to an asset that is being used as collateral such as a car, property or savings account.
- Receive a lower interest rate that is possibly tax deductible
- Easier to obtain with higher borrowing potential
- Longer repayment term and risk of losing assets if you default on your loan
Unsecured Loan
- No assets at risk
- Shorter repayment term
- Based on credit history
- Harder to obtain
- Higher interest rate and no tax benefit
Common Questions about Debt Consolidation
What is a debt consolidation loan?
A consolidated loan helps take several debts, such as, credit cards, car loans, or student loans, and helps consolidate them into one easy-to-pay loan with a lower interest rate and possibly a lower monthly payment. Debt consolidation doesn’t change the total amount you owe, but it can make the repayment process easier and more manageable.
A consolidated loan helps take several debts, such as, credit cards, car loans, or student loans, and helps consolidate them into one easy-to-pay loan with a lower interest rate and possibly a lower monthly payment. Debt consolidation doesn’t change the total amount you owe, but it can make the repayment process easier and more manageable.
Do debt consolidation loans hurt your credit?
A consolidated loan can be a smart way to streamline higher interest loans. Because your goal is to eliminate debt, a consolidated loan can help in the long term. It doesn’t change the total amount you owe, but it can make the repayment process easier and more manageable. In the short term, the debt consolidation loan may affect your credit because you’re opening a new account and taking out a new line of credit.
A consolidated loan can be a smart way to streamline higher interest loans. Because your goal is to eliminate debt, a consolidated loan can help in the long term. It doesn’t change the total amount you owe, but it can make the repayment process easier and more manageable. In the short term, the debt consolidation loan may affect your credit because you’re opening a new account and taking out a new line of credit.
Why choose Vision Bank for your Debt Consolidation Loan?
As an independently owned community bank in Oklahoma, Vision Bank is invested in the success of our community. All our lending decisions are made locally, which means that we offer more flexibility and personalized service for our customers.
As an independently owned community bank in Oklahoma, Vision Bank is invested in the success of our community. All our lending decisions are made locally, which means that we offer more flexibility and personalized service for our customers.
Ready to tackle your debt? We are here to help. Apply online, call 888-332-5132 or visit one of our convenient locations to learn more!