Are you paying too many credit cards and other loan EMIs in a month and is it taking almost 50% or more of your monthly income? If yes, then you must be having a tough time managing timely repayments and smooth monthly outlays.
But after having said that, you can avail a personal loan to repay all debts and pay just 1 EMI in the month. Yes, if you do that, you will only pay a single EMI and be able to manage your monthly expenses with some savings. What is the best time to pay off credit card debts using a personal loan? When the repayments of your debts start consuming more than half of your monthly income, then you must pay off all debts using a personal loan. To do that, you can apply for a personal loan for debt consolidation – a loan designed for the purpose. It is an extension of the personal loan that you can use to clear all debts at a time. What are the advantages of applying for a personal loan?
0 Comments
Leave a Reply. |
AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |