Debt Consolidation for Veterans

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Our country owes a lot to military service members and veterans and we should do our best to thank them for their service and sacrifice. 

Life as a veteran can be hard. Readjusting to civilian life after years of active duty service can be challenging as is reconnecting with spouses and family members after a long absence. Veterans have to rediscover their civilian community, blend in, and create new friendships. 

Life outside the military is often overwhelming. The military lifestyle is well-defined and precise and civilian life can seem too complicated. It may take time for veterans to adjust to everyday tasks, from finding work to cooking for the family or deciding for themselves. There is an immense difference in pace between life as active duty service members and as civilians that veterans are called to grasp quickly after leaving service. 

Veterans and Job Opportunities

While the unemployment rates for veterans are generally low,  veterans may still encounter difficulties when looking for a job, particularly if they have spent several years in military service. The job world changes at an incredible speed and everybody is required to learn new skills and adapt. This is twice as true for veterans, who need to translate their military skills into usable employment skills. 

As a result, some veterans may spend long stretches of time in unemployment looking for work or trying to find how to best reenter civilian life. During these periods, living expenses often pile up and savings accounts may not be sufficient to cover all needs. 

Some veterans may thus find themselves in credit card debt, late bills, and overall debt. Thankfully, they have the option to reach out to Credit9 and ask for a debt consolidation loan when debt becomes overwhelming. 

What Is a Debt Consolidation Loan?

Consolidation loans gather all existing debts from many types of debt, such as bank credit card debt, medical debt, and even late bills, into one loan with a lower interest rate and an extended repayment period. 

Instead of paying several creditors and missing out on payments, debtors have the opportunity to benefit from a consolidation loan with simpler, more affordable interest rates. Consolidation loans help them keep track of their credit and pay it back on friendlier terms. 

Benefits of Loan Consolidation

If you have to make monthly payments for multiple credit card bills, or other unsecured debts, such as a personal loan, a debt consolidation program will roll all your existing debts into a new loan with a single monthly payment, and make it easier to stay on top of what you owe and your budget. 

To qualify for a debt consolidation loan you must have more than one outstanding loan. When you consolidate your debt, you benefit from one single monthly payment and from lower interest charges. A debt consolidation management program can thus be one of the best ways to manage your debts and may even let you save money.

Credit9 provides debt consolidation refinance loans for veterans, with favorable repayment terms. Our goal is to help you reach financial stability and feel in control of your finances. Once you start systematically paying off your debt, you can focus on your work and your family, and stop using hard-earned savings for everyday needs. 

Consolidation loans offer better repayment terms

It is easy to panic and feel you are drowning under a pile of debt and high-interest rates, but it is good to know that there is an efficient solution to help you keep afloat with your credit.

Credit9’s consolidation loans can help you achieve financial security. When you consolidate debt, you get better repayment terms and your life becomes easier, taking the stress out of debt management for former military personnel.

Benefit from lower interest rates with a consolidation loan

Because they are unsecured debt associated with a higher delinquency risk, credit cards come with high-interest rates, often in the double digits. It is very easy to pile up credit card debt, particularly if you only make the minimum monthly payments. Your credit card balance can quickly balloon and it may take years to pay off debt from credit cards. 

A debt consolidation loan offers a lower interest rate compared to credit card rates. This means you will pay less interest rate charges and it will be easier and quicker to repay the loan. 

One monthly payment is more manageable

Many veterans have more than one credit card and several unpaid bills. They may also have medical debt and other unsecured loans. Credit cards and loans come with their own payments and deadlines, which can easily mean 4 or 5 payments in a month. 

Instead of juggling payment schedules to different lenders and missing out on them, debt consolidation gives you one single monthly payment to a single lender. This makes it much easier to include your debt repayment in your monthly budget. Life becomes easier and more manageable with a consolidation loan. 

Improve your credit score

If you have unpaid loans and credit cards, your credit score has probably taken a hit. Your credit report may not be good enough if you need to take a new loan, especially a type of secured debt such as a home loan or a car loan.

When you gather all your debt into one consolidation loan and you keep up with your monthly payments, your credit score and credit report will slowly improve. As you pay off your consolidation loan, your credit score will get better and you will be able to apply for a mortgage or a car loan on better terms. 

Having a good credit score helps veterans maintain better control over their finances, and Credit9 consolidation loans offer a viable means of accomplishing this goal.

Adjust the repayment period

With a debt consolidation loan, you can choose the repayment period depending on your needs. If you want smaller monthly payments you can extend the repayment period. If, on the other hand, you prefer to get rid of your debt sooner, you can opt for shorter periods. 

In general, debt consolidation loans offer a 3 to 5 years repayment period. 

Credit9 for Your Veteran Financial Needs

Credit9 is thankful for the service that military service members provide to our country. In return, we want to make the financial situation of military families manageable, particularly when civilian life feels difficult and complicated. As your financial partner, Credit9 can help you overcome credit card debt and find financial stability. 

When you apply for a consolidation loan, you benefit from favorable refinancing terms and interest rate reduction. Credit9 will help you on the path toward achieving financial well-being. Get started on your journey to financial wellness by taking advantage of our programs and services. 

Are you looking for the best debt consolidation services for debt relief available to veterans? Contact us today for information and advice on your debt consolidation loan options and your best debt relief options. Our debt specialists will guide you through the debt consolidation process and help you reach financial security for you and your family. Enjoy a life free of debt!

Frequently Asked Questions